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U.S. agricultural trade with China has continued despite strained diplomatic relations, with recent sales of corn and sorghum and a rebound in soybean purchases. Chinese buyers account for about 62% of 1.82 billion bushels of U.S. soybean export commitments to date.
Soybean exports to China have slowed seasonally as South American supplies come to market.
Continued Chinese purchases support U.S. soybean and feed grain demand, but seasonal slowing and expected record Brazilian supplies weigh on near-term export pace and price.
kbhbradio.comFrancie GanjeMar 28, 2023After 696 past bullish trade events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 729 past bullish trade events, CORN moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
Not enough comparable past events yet for a historical read.
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.
