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China is using more corn in feed rations as higher wheat and sorghum prices push those grains out, with China's 2022-23 corn output at 277.2 million tonnes. China holds contracts for only 3.7 million tonnes of US corn for 2022-23, down 70%, as it turns to Brazil, and an analyst expects Canadian feed barley exports to China could pull back.
Lower Chinese imports of US corn and Canadian barley shift demand to Brazil, weighing on feed barley and US corn prices.
ukragroconsult.comFeb 13, 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.
