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A USDA report shows U.S. corn export sales to China in the 2023/24 marketing year fell about 62.8% year on year. Shipments totaled 2.82 million tons through August 2024, versus 7.54 million a year earlier.
No new-crop purchases from China have been reported.
The steep drop in Chinese demand removes a major buyer of U.S. corn and adds pressure to U.S. export prices. Weaker export sales could build U.S. stocks and weigh on domestic corn values.
ukragroconsult.comSep 13, 2024After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
