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China's corn imports in October 2022 fell 57.9% year on year to 550,000 tonnes, and January-October corn imports reached 19.01 million tonnes. Wheat imports rose above 200% month on month to 1.24 million tonnes, while barley and sorghum imports fell.
Sharply lower Chinese corn imports reduce global demand for US corn, while the wheat rebound adds some import support. Weak barley and sorghum buying weighs on those markets.
fastmarkets.comRegina KohNov 21, 2022After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
Not enough comparable past events yet for a historical read.
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.
