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USDA reported sales of 1.084 million tonnes of U.S. corn to Chinese buyers, split between 676,000 tonnes for 2021-22 and 408,000 tonnes for 2022-23. The purchase follows a smaller-than-expected U.S. crop estimate and the Russian invasion that has blocked Ukrainian corn exports.
Chinese buying of U.S. corn while Ukrainian supply is blocked tightens global corn availability and supports corn prices for feed users.
agri-pulse.comBill TomsonApr 4, 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.
