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China has sharply diversified its corn import sources since October 2022, with Brazil gaining the largest market share. Brazil shipped over 2.2 million tons in 2022/23 after a May 2022 access agreement, while Burma and Russia also increased volumes.
The shift has reduced US market share due to competitive pricing.
Loss of Chinese corn demand to Brazil and other origins erodes US corn export prospects and keeps pressure on global corn prices.
millermagazine.comNewclick Dijital Reklam AjansıAug 4, 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.
