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China's central bank set the yuan midpoint at 7.1586 per dollar, its strongest since November 2024, and the spot yuan firmed in early trade. The PMI rose to 49.7 in June from 49.5, still in contraction, while Chinese exports have so far absorbed reciprocal tariffs with limited damage.
A firmer yuan lowers the cost of China's feed and grain imports in local terms, which can support import demand for soybeans, meal and corn, though the effect on feed prices is modest.
tradingview.comJun 30, 2025After 362 past bearish macro events, USDCNY 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.
