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China will restart auctions of old-crop rice for feed use from March 2023 to rotate aged stocks and temper feed grain prices. The rumored volume is about 18 million tonnes, less than half of 2021 and 2022 offerings.
Smaller Chinese rice auction volumes than prior years reduce a feed-grain substitute, which is mildly supportive for corn and other feed grain prices and for rice.
fas.usda.govFeb 3, 2023After 168 past bullish policy events, Rough Rice moved a median +0.8% over 5 sessions (57% higher; middle half -1.7% to +2.1%), and -0.4% over 20.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% 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.
