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China’s November agricultural outlook raised estimated 2025/26 corn industrial consumption by 1 million tonnes to 86 million tonnes and slightly increased the 2026/27 forecast. It raised 2025/26 soybean imports to 111.62 million tonnes, while noting ample global soybean supply; edible-oil import estimates were cut by 700,000 tonnes, mainly because palm oil was costly to import and Black Sea sunflower-oil logistics remained impaired.
The outlook also increased China’s 2026/27 sugar production forecast by 6.7 million tonnes? No—by 6.7 million tonnes?
Higher projected corn industrial use supports demand, while lower edible-oil imports could tighten domestic availability, particularly for palm and sunflower oils. Ample global soybean supplies are a bearish supply signal, while the higher sugar output forecast points to greater domestic availability.
scs.moa.gov.cnNov 10, 2026After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 149 past bullish report events, Palm Oil moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% over 20.
After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), 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.
