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Capital is flowing out of China as domestic investors give up on an immediate recovery in local markets and move money abroad. The yuan fell to seven-month lows during the week, alongside a reversal in equity investment flows into China.
Capital outflows and a weaker yuan raise the cost of dollar-priced feed imports for Chinese buyers, which can dampen their purchasing appetite for soybeans, corn and meal.
reuters.comWinni ZhouJun 21, 2024After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% 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.
