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US officials accused Beijing of stockpiling grain amid a global food crisis. The column notes that the Phase 1 trade deal commits China to large US farm purchases that have not yet been met.
Unmet Chinese purchase commitments point to weaker US export demand for corn and soybeans, which is mildly bearish for US prices.
reuters.comKaren BraunJul 25, 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.
