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China's grain imports fell 11.8% in the first 11 months of 2022 to 133.2 million tons. Vegetable oil imports dropped nearly 42% and meat imports fell 23%.
Disruption in the Black Sea area, a strong dollar, and weak feed demand are cited as causes.
Lower Chinese grain imports reduce global demand and put downward pressure on corn and wheat prices. Weaker feed production cuts demand for feed grains.
yicaiglobal.comShao HaipengDec 9, 2022After 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.
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.
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.
