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Corn has rallied about $2 per bushel from August lows as Chinese import demand has risen sharply. USDA estimates China will import 24 million tonnes this year, and private forecasts go above 30 million tonnes.
Chinese import demand far above historical levels is a strong support for US corn prices, though the forecasts may be hard to sustain given current US export pace.
agweb.comJon ScheveDec 20, 2021After 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.
