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China's wheat imports rose more than 50% year-on-year in January to September 2023, exceeding 10 million tonnes. The analysis notes that tariff-rate quotas and subsidies are failing to contain cheaper overseas feed grain flowing into the country.
Persistent Chinese import demand for wheat and feed grains supports overseas prices, while domestic policy pressure on the import regime adds uncertainty about future volumes.
policycn.comDec 6, 2023After 182 past bullish policy events, WHEAT moved a median +0.1% over 5 sessions (52% higher; middle half -1.9% to +1.4%), and -0.3% over 20.
After 439 past neutral policy events, CORN moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% 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.
