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USDA reported another Chinese purchase of more than 1 million metric tons of US corn. Cumulative US corn sales to China in the current marketing year reached roughly 14.7 million metric tons.
Large, continued Chinese buying of US corn tightens US export availability and supports corn prices.
iowafarmbureau.comTom BlockMay 2, 2022After 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.
