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China has been buying some U.S. soybeans in recent days, though daily amounts are smaller than in past periods. Buying from unknown destinations, often assumed to be China, adds to the picture.
Brazilian corn shipments to China have also risen sharply.
Renewed Chinese soybean purchases support U.S. soy export demand and prices. Heavier Brazilian corn flows to China add export competition for U.S. corn.
reuters.comKaren BraunDec 8, 2022After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
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.
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.
