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Reuters customs data showed China's grain imports fell sharply in July as tariffs on U.S. supplies and higher international prices curbed buying. Sorghum, corn and wheat imports all dropped year over year.
Most of China's sorghum has historically come from the United States.
The decline removes a significant outlet for U.S. feed grains and shifts Chinese demand to other origins. Higher world prices add to the pressure on buyers.
world-grain.comArvin DonleyAug 24, 2018Not enough comparable past events yet for a historical read.
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.
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.
