# China forgoes US corn despite slowdown in Brazilian shipments | Reuters

> China imported 12.56 million metric tons of corn in the first eight months of 2024, down nearly 16% year on year. Its early-2024 lead over 2023 disappeared in May, and the deficit has widened since. U.S. shipments have thinned since China cleared Brazilian corn for import in 2022.

- Date: 2024-09-19 · published 2024-09-19T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/14716-china-forgoes-us-corn-despite-slowdown-in-brazilian-shipments-reuters
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Weaker Chinese purchases remove a major outlet for U.S. corn, adding pressure to U.S. export prices and basis. Brazilian competition for Chinese demand is likely to persist.

## Read by commodity

- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-05-15 | [China May Cancel More US Corn in Shift to Cheaper Brazil Cargoes](https://feedsoft.ai/events/14844-china-may-cancel-more-us-corn-in-shift-to-cheaper-brazil-cargoes.md) | -8.8% | -9.3% |
| CORN | 2021-07-14 | [U.S. positioned for slowdown in China's pork demand](https://feedsoft.ai/events/46077-u-s-positioned-for-slowdown-in-china-s-pork-demand.md) | -9.8% | -13.0% |
| CORN | 2023-10-06 | [US corn, soy exporters continue battling huge Brazilian supplies \| Reuters](https://feedsoft.ai/events/14806-us-corn-soy-exporters-continue-battling-huge-brazilian-supplies-reuters.md) | -0.5% | -4.9% |
| CORN | 2022-10-12 | [China Set to Import Brazilian Corn in Challenge to US Supply - Bloomberg](https://feedsoft.ai/events/14894-china-set-to-import-brazilian-corn-in-challenge-to-us-supply-bloomberg.md) | +1.9% | -1.0% |
| CORN | 2023-08-20 | [China July soybean imports from US tumble, Brazil shipments surge - Markets - Business Recorder](https://feedsoft.ai/events/14821-china-july-soybean-imports-from-us-tumble-brazil-shipments-surge-markets.md) | -1.1% | -1.1% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/china-forgoes-us-corn-despite-slowdown-brazilian-shipments-2024-09-19/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.