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China is moving to speed up corn imports from Brazil by temporarily waiving a phytosanitary clause for the current season. The decision follows a May agreement giving Brazil long-term access to the Chinese market, and comes as the Ukraine war and US-China tensions disrupt trade.
Easier access for Brazilian corn adds a large competing supply to China's import market, which can pressure US corn export demand. Brazilian export flows and FOB prices become more important to global corn pricing.
bloomberglinea.comTatiana Freitas, Alfred CangAug 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.
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.
