
USDA cut its 2024-25 Chinese corn import estimate to 5 million metric tons from 7 million, a 79% drop from the prior year. The report also highlighted record US corn exports and a strong US biofuel sector.
Lower Chinese import needs are offset by record US exports and biofuel demand, supporting US corn and soyoil prices.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.