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World Grain profiles China's role in global grains, citing IGC estimates that China's 2021-22 grain output rose to 417.7 million tonnes. Corn and wheat production are up while grain imports fall sharply from the prior year, with corn imports down to 16.5 million tonnes from 29 million.
Lower Chinese corn and grain import needs reduce demand for world feed grains and loosen export competition, which is bearish for corn and wheat prices. Rebuilt pig herds keep feed demand firm domestically, limiting how far import declines push prices down.
world-grain.comChris LyddonFeb 8, 2022After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), 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.
