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Chinese purchases of U.S. corn and soybeans have slowed sharply, with China's buying at 3.6 million tonnes versus 11.9 million and 10.6 million tonnes at the same point in 2021 and 2020. Some corn is being sourced from Ukraine, but those shipments are also down year over year.
Slower Chinese buying reduces export demand for U.S. feed grains and soybeans, pressuring U.S. futures and the basis, while weaker Ukrainian flows leave less alternative supply disrupted.
reuters.comKaren BraunOct 28, 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 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% 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.
