Loading…
USDA daily reports showed a 178,000-tonne corn sale to China, and weekly data for the week ended March 23 showed additional Chinese purchases of corn, sorghum and soybeans. Sales of U.S. corn to China have exceeded 2.9 million tonnes across the past two weekly reports.
Sustained Chinese corn and soybean buying reduces available U.S. export supplies and supports domestic prices for feed grains.
profarmer.comJim WiesemeyerMar 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.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
Not enough comparable past events yet for a historical read.
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.
