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Chinese purchases of U.S. corn as of Sept. 8 totaled 3.36 million tonnes, down 72% from a year earlier and 63% below the same date in 2020.
The export data showed decent soybean demand alongside weak corn sales.
Weaker Chinese corn buying reduces export demand and weighs on U.S. corn prices, while steady soybean demand supports the soy complex.
reuters.comKaren BraunSep 16, 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 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
