
The USDA said private exporters booked 1.762 million tonnes of U.S. corn for China, shipping in the 2020/21 marketing year starting Sept 1. China also booked 129,000 tonnes of U.S. soybeans for the same year.
A record-sized corn purchase by China supports U.S. export demand and firms nearby corn and soybean futures. It also brings the country closer to its Phase One purchase commitments.
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 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.
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.