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Hedgepoint analysts say China's corn imports in 2024 were 3.3 million tons, about 38% of the 8.7 million tons received in 2023, according to Chinese customs. Brazil supplied about 48% of imports and the U.S. about 44%.
Brazil's corn export program is also underperforming versus last year.
Lower Chinese import demand reduces export outlets for both U.S. and Brazilian corn, which is bearish for global corn prices. Sluggish Brazilian exports could ease competition for U.S. suppliers.
revistacultivar.comSep 26, 2024After 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.
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.
