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China's agriculture ministry projects corn imports will fall 75% to 6.8 million tons over the decade to 2033, and wheat imports will drop 60% to 4.85 million tons. Soybean imports are projected to fall 21% to 78.7 million tons in the same period.
Official plans for lower Chinese grain and oilseed imports reduce long-term structural demand for US, Brazilian and Black Sea exports. This is bearish for feed grain and soybean prices over the long run.
reuters.comMei Mei ChuMay 23, 2024After 310 past bearish policy events, Corn moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% over 20.
After 122 past bearish policy events, Wheat (SRW) moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +1.2%), and +0.4% over 20.
After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% 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.
