China May Cancel More US Corn in Shift to Cheaper Brazil Cargoes

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.

• Apr 25, 2023China's move to cancel US corn purchases leaves Asian traders in split-2.4%
• Sep 19, 2024China forgoes US corn despite slowdown in Brazilian shipments | Reuters-0.7%
• Oct 12, 2022China Set to Import Brazilian Corn in Challenge to US Supply - Bloomberg+1.9%
• Sep 29, 2023U.S. corn prices slump as top buyer China turns to Brazil - Nikkei Asia+1.9%
• Aug 12, 2022China to Speed Corn Imports from Brazil Amid Ukraine War, US Tensions-0.7%

After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.

• Jun 22, 2022Chinese Farmers Bought More US Sorghum in May Amid Wheat, Corn Price Hikes+1.8%
• Mar 22, 2024U.S. wheat sales to China cancelled - Manitoba Co-operator+1.2%
• May 24, 2023Plentiful Chinese wheat to pile pain on corn and soy from US and Brazil-2.4%
• Apr 24, 2023US corn falls after China cancels purchases; drags wheat, soy lower-8.3%
• Mar 28, 2017U.S. Farmers Fear Shift in Mexican Corn Imports – Food Tank+0.5%