Loading…
China's soybean imports from Brazil rose sharply in November, with Brazil shipping 5.2 million tonnes, up 108% year-on-year. Brazil also supplied most of China's record 3.59 million tonnes of corn imports that month, while US soybean shipments to China fell 30%.
Cheaper Brazilian supply is drawing Chinese demand away from US soybeans and adding corn supply to a market already pressured by a record domestic crop, which weighs on world prices.
world-grain.comJohn ReidyDec 20, 2023After 803 past bearish trade events, SOY moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 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.
