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China made two large corn purchases in the same week that US and Chinese officials were set to meet. Private exporters reported sales of 1.224 million mt of corn for delivery to China in the 2020/21 marketing year.
Arlan Suderman of StoneX says the demand is genuine and linked to dryness risk for Brazil's safrinha corn crop.
Continued Chinese buying of US corn tightens export supplies and supports prices. Expected dryness in Brazil's safrinha crop could also keep export competition limited.
agweb.com17 mar 2021Tras 729 eventos alcista de comercio pasados, Maíz se movió una mediana de +0,4 % en 5 sesiones (56% al alza; mitad central entre -1,1 % y +1,8 %), y +0,5 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
Two large Chinese corn purchases in one week, seen as genuine demand tied to Brazil safrinha dryness risk, were bullish for prices.
