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The yuan has held up despite a trade war, slow growth, near-zero interest rates and a slump in foreign investment. It is heading for its sharpest annual gain since 2020.
A firmer yuan makes Chinese import purchases of US feed ingredients cheaper in dollar terms, which can modestly support demand. The effect on grain prices is limited.
reuters.comNov 24, 2025After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% 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.
