
China's imports of US farm products other than soybeans, including meat, sorghum and corn, are on track for their lowest level in seven years, with about $7.2 billion bought from January to September. Soybean purchases have risen but reached only about half of the 25-million-ton annual target.
A bilateral agricultural working group meeting produced no concrete results.
Weak Chinese buying of US sorghum and corn reduces export demand for US feed grains and adds pressure on prices. The shortfall on soybeans leaves the trade pledge uncertain.
After 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.
Not enough comparable past events yet for a historical read.
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.