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China was the top destination for Canadian wheat in the first two months of the 2022/23 marketing year, taking 534,000 tonnes in August and September, about 20 per cent of Canada's wheat exports to date. China was also the leading buyer of Canadian barley and peas, taking 78 per cent of barley exports and 67 per cent of peas.
Canadian canola shipments to China were slightly behind the prior year's pace.
Strong Chinese purchases of Canadian wheat and barley support export demand and prices for those grains. Concentrated demand from China leaves exporters exposed if Chinese buying slows.
agcanada.comAGCanadaNov 4, 2022After 431 past bullish trade events, Wheat (SRW) 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.
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.
