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China has bought US corn in recent weeks, confirmed by flash sales, after largely staying out of the US market in the prior year. Analysts say China needs supplies as its economy reopens, and US corn has become price-competitive against Ukraine and Brazil, whose supplies are running low.
Renewed Chinese buying adds export demand for US corn at a time when US export sales trail last year, supporting corn prices and freight demand for grain shipments.
agweb.comMichelle RookMar 20, 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.
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.
