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Chinese buyers returned to the market after the holiday, purchasing up to 12 cargoes of barley from France, Australia and Ukraine. Ukrainian corn also drew firm demand.
Optional-origin barley ideas were around $247-255 per tonne CFR China.
Renewed Chinese import demand for barley and corn supports export prices and firms French and Australian basis. Ukrainian origin faces reluctance due to contaminants, which shifts business to other origins.
fastmarkets.comSam Balf, Masha BelikovaFeb 27, 2024Not enough comparable past events yet for a historical read.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), 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.
