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US Census Bureau data showed agricultural and related exports to China reached $17.5 billion in January to June 2022, up 15% from the prior year's record for the same period. The total already exceeds full-year 2018 and 2019 totals, with soybeans making up 29% of the value, corn 18%, cotton 11% and sorghum 9%.
Strong Chinese buying of US soybeans and corn tightens exportable supplies and supports US feed grain and soybean prices. Sustained demand from China is a key support for US export basis and futures.
reuters.comKaren BraunAug 5, 2022After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
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.
