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Chinese authorities have urged major importers to cut grain purchases, especially barley and sorghum, to reduce oversupply and support domestic prices. The restrictions exclude cargoes booked for October-November delivery but will affect later shipments.
Lower Chinese demand for barley and sorghum is bearish for US and Australian exporters, since China takes most of the world's sorghum imports. Feed buyers may see softer export prices for these grains.
graintrade.com.uaAug 29, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 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.
