China significantly steps up US grain purchases

After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.

• Oct 24, 2023China signs US agriculture purchase agreements in first ceremony in years+1.8%
• Feb 21, 2019China to propose $30 billion more US agriculture purchases-3.2%
• Mar 24, 2020China makes largest U.S. grain purchases since start of trade war - UPI.com+3.1%
• Dec 11, 2023China Purchases SRW-2.8%
• Jan 3, 2024China Purchases SRW-1.9%

After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.

• Oct 24, 2023China signs US agriculture purchase agreements in first ceremony in years-0.3%
• Feb 21, 2019China to propose $30 billion more US agriculture purchases+0.1%
• Dec 10, 2019China steps up US soybean purchases as trade talks drag on+2.8%
• Mar 23, 2020China purchases US grain | 2020-03-23 | World Grain+2.2%
• Oct 24, 2023China – U.S. Agriculture Companies Sign 11 Purchase Contracts/Agreements - U.S. Soybean Export Council-0.3%