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U.S. agricultural exports reached a record above $200 billion in 2022, with China taking a record share. Soybeans and corn became more expensive for China to import in 2022 than in 2020, and those two products made up 57% of U.S. farm exports to China.
U.S. corn exports to China fell 14% by volume.
Higher U.S. prices pushed Chinese buyers toward other origins, which weighs on U.S. corn and soybean export demand. The effect on prices is modest because total U.S. farm exports still hit a record.
reuters.comKaren BraunFeb 8, 2023After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% 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.
