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China's trade slumped as crude oil shipments to the country fell 18.8% from the previous month to their lowest daily rate since January. Shipments were still 17% above the same period a year earlier.
The article links the weakness to threats to the country's economic recovery.
Weaker Chinese import demand points to softer energy and commodity demand, which can pressure prices for feed inputs and related commodities.
reuters.comJoe CashAug 8, 2023After 1,802 past trade events, SOY moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.7%), and +0.7% over 20.
After 1,982 past trade events, CORN moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +1.6%), and +0.4% over 20.
After 977 past trade events, SBM moved a median -0.1% over 5 sessions (48% higher; middle half -1.5% to +1.8%), and +0.1% 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.
