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China is using more corn in feed rations because higher wheat and sorghum prices reduce demand for alternatives, with corn about 35% of compound feed in the first 11 months of 2022. China's 2022-23 corn output is pegged at 277.2 million tonnes, and Brazilian corn is about $23/t cheaper than US corn, shifting imports toward Brazil.
Rising Chinese corn use and Brazilian supply displace US corn and feed barley exports, pressuring Canadian feed barley prices.
producer.comadminFeb 9, 2023Not enough comparable past events yet for a historical read.
After 683 past bearish trade events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
