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China bought less than a quarter of its $36.6 billion annual U.S. agricultural import target in the first half of 2020, according to Chinese customs data. Analysts say the commitment is still reachable but difficult, given discounted Brazilian crops and weak prices.
Expected Chinese purchases of U.S. corn and soybeans in the second half could support U.S. prices if the phase one target is pursued. Doubts about fulfilment add uncertainty to export demand.
dc.medill.northwestern.eduHenry RenAug 17, 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.
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.
