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USDA projects record Chinese soybean imports of 109 million tonnes in 2024-25, with corn at 23 million tonnes and wheat at 11 million. A Chinese Academy of Agricultural Sciences long-range forecast predicts grain output will rise to 766 million tonnes by 2033-34, which would shrink import needs.
China is the largest buyer of all three crops, so a long-run contraction in its imports would weigh on global oilseed and grain prices. The divergence between USDA and CAAS views makes the outlook uncertain.
producer.comSean PrattMay 23, 2024After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
