Loading…
China bought 293 million bushels of U.S. corn and 1.142 billion bushels of U.S. soybeans so far in 2022-23. Chinese soybean and corn prices have broken lower since March, and China has been cancelling some U.S. sales.
Weaker Chinese import demand and cancelled U.S. sales reduce export demand for corn and soybeans, adding bearish pressure to U.S. prices.
dtnpf.comTodd HultmanMay 26, 2023After 683 past bearish trade events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 803 past bearish trade events, SOY moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% 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.
