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Mexico leads U.S. corn bookings for both the 2021-22 and 2022-23 marketing years with 1.72 million tonnes, while China has bought 1.56 million tonnes as of April 21 and secured at least 612,000 tonnes more since. Record sales for the coming year point to strong export demand for both corn and soybeans.
Strong forward bookings tighten the expected U.S. export balance and support corn and soybean prices, which feed buyers pay through meal and grain costs.
reuters.comKaren BraunApr 29, 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.
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.
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.
