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US Agriculture Secretary Tom Vilsack said Chinese purchases of US corn would rise again after a nearly 20% drop in US exports to China, which he attributed to lower Brazilian corn prices. He also said the US is working to reduce reliance on China and other large markets.
Expectations of renewed Chinese buying would support US corn export demand, but Vilsack made no specific volume forecast. Competition from cheaper Brazilian corn continues to cap US prices.
investing.comNov 30, 2023After 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.
