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Foreign investors sold onshore yuan bonds for a second consecutive month in June, including a net 73 billion yuan of negotiable certificates of deposit. The narrowing dollar premium in forwards has eroded the carry trade, leaving yields about equal to US Treasuries.
Reduced foreign bond demand changes capital flows into China but has little direct bearing on feed grain or protein prices.
After 991 past macro events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (49% higher; middle half -0.3% to +0.3%), and -0.1% 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.