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U.S. corn prices fell to their lowest level in nearly three years as China increased imports from Brazil. Weakening demand combined with high supply is weighing on American corn values ahead of an expected bumper crop.
Chinese buyers shifting volume to Brazilian corn reduces U.S. export demand and pressures U.S. corn futures lower, which lowers feed grain costs for buyers.
asia.nikkei.comMISA HAMA, Nikkei staff writerSep 29, 2023After 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.
