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China may begin importing Brazilian corn as early as December, with 45 Brazilian facilities operated by firms including Bunge, Cargill and ADM pre-approved for export. The move is part of an effort to reduce reliance on U.S. and Ukrainian supplies.
Diversification of Chinese corn sourcing toward Brazil reduces demand for U.S. corn exports and adds Brazilian supply to the global market.
bloomberg.comTarso VelosoOct 12, 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 26 past neutral trade events, USDBRL moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.4%), and +1.3% 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.
