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China has bought about a third of the grains and oilseeds Canada exported in the first five months of the crop year, according to the Canadian Grain Commission. China is also expanding its grain and oilseed storage, which now holds more than half of world stored wheat, rice and soybean meal.
Heavy Chinese buying supports Canadian wheat, canola and barley prices, while its growing stockpiles could tighten export availability during future disruptions.
ontariofarmer.comFeb 7, 2023After 431 past bullish trade events, WHEAT moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 342 past bullish trade events, SBM moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.
