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A Council on Foreign Relations scholar argues that Beijing does not want the yuan to replace the dollar, and that its goal is a credible second-tier currency network. That network would help China bypass future US dollar-based sanctions.
This is commentary on currency strategy with no direct supply or demand change for agricultural commodities, so it has no clear price implication.
After 991 past macro events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (49% higher; middle half -0.3% to +0.3%), and -0.1% 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.