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By the week ending January 21, China had committed 34.7 million metric tons of U.S. soybeans for 2020/21, about 60 percent of total U.S. soybean export sales. Chinese commitments for U.S. corn reached 11.8 MMT and wheat 2.6 MMT, with China now the third-largest importer of U.S. wheat.
Heavy Chinese buying of U.S. grain sustains export demand and grain transportation needs, supporting soybean, corn and wheat prices.
feedandgrain.comFeb 4, 2021After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.
After 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.
