
USDA confirmed sales of 5.85 million tonnes of U.S. corn to China for 2020-21 delivery in its daily reporting system last week. Mixed in were two smaller soybean sales to China of 132,000 tonnes each for 2021-22 delivery.
Large Chinese corn purchases tighten U.S. old-crop supplies and support corn prices, while the modest new-crop soybean sales signal limited near-term demand for the next crop.
After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% over 20.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), 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.