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In late December 2023, China approved 37 genetically modified corn varieties and 14 soybean varieties after a three-year trial. The move aims to raise domestic production and reduce reliance on imports, with soybeans noted as over 88% import-dependent.
Expanded domestic GM corn and soybean planting could gradually cut Chinese import demand, which is bearish for global corn and soybean prices over time.
asiasociety.orgMay 29, 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 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.
