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USDA weekly export data for December 18-24 showed China importing 1.465 million tonnes of U.S. soybeans, 492,000 tonnes of corn, 68,200 tonnes of wheat and 161,600 tonnes of sorghum, with China the sole importer of U.S. sorghum that week. Net soybean sales to China were 619,700 tonnes for 2020-21 and 126,000 tonnes for 2021-22.
Sustained Chinese purchases of U.S. soybeans, corn, wheat and sorghum tighten U.S. export availability and support prices, with Brazilian supply concerns adding to demand for U.S. beans.
agri-pulse.comBill TomsonDec 31, 2020After 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.
