# China's move to cancel US corn purchases leaves Asian traders in split

> USDA's private exporter announcement on April 24 showed 327,000 mt of U.S. corn sold to China for 2022-23 delivery had been canceled. Platts assessed Corn CFR North East Asia at $286.50/mt on April 25, its lowest since March 2021. CBOT corn futures also fell.

- Date: 2023-04-25 · published 2023-04-25T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/14848-china-s-move-to-cancel-us-corn-purchases-leaves-asian-traders-in-split
- Commodities: [DDGS](https://feedsoft.ai/c/DDGS.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Cancelled Chinese purchases remove export demand and push U.S. and Asian corn prices lower. Cheaper Brazilian corn is a competing source that may draw Chinese buyers away from U.S. supply.

## Read by commodity

- CORN: bearish ▼
- DDGS: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-04-24 | [US corn falls after China cancels purchases; drags wheat, soy lower](https://feedsoft.ai/events/10358-us-corn-falls-after-china-cancels-purchases-drags-wheat-soy-lower.md) | -0.7% | -9.9% |
| CORN | 2023-05-15 | [China May Cancel More US Corn in Shift to Cheaper Brazil Cargoes](https://feedsoft.ai/events/14844-china-may-cancel-more-us-corn-in-shift-to-cheaper-brazil-cargoes.md) | -8.8% | -9.3% |
| CORN | 2020-01-16 | [China's 'market condition' caveat on U.S. ag purchases adds to trade deal doubts](https://feedsoft.ai/events/54944-china-s-market-condition-caveat-on-u-s-ag-purchases-adds-to-trade-deal-doubts.md) | +0.7% | -1.7% |
| CORN | 2018-10-12 | [Trade War Drives Farmers to Corn as China Shuns US Soybeans - TT](https://feedsoft.ai/events/8558-trade-war-drives-farmers-to-corn-as-china-shuns-us-soybeans-tt.md) | +2.4% | +3.2% |
| CORN | 2022-02-08 | [U.S. December trade data reveals massive shortfall in China's 'Phase 1' purchases](https://feedsoft.ai/events/14953-u-s-december-trade-data-reveals-massive-shortfall-in-china-s-phase-1-purchases.md) | +1.9% | +14.4% |

## Sources

- datamarnews.com: https://datamarnews.com/noticias/chinas-move-to-cancel-us-corn-purchases-leaves-asian-traders-in-split/
- spglobal.com: https://www.spglobal.com/commodity-insights/en/news-research/latest-news/agriculture/042523-chinas-move-to-cancel-us-corn-purchases-leaves-asian-traders-in-split

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.