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China imported 3.53 million mt of corn in September, up 227% year on year, with the US the top supplier at 3.34 million mt. Corn imports from January to September reached 25 million mt.
Dalian hog futures recovered from their Sept. 30 low, and CASDE forecast a bumper 2021-22 domestic corn crop.
Strong Chinese corn buying supports US and global corn export demand, but a forecast bumper domestic crop and lower 2021-22 import estimates limit the upside. Hog price recovery could also lift feed demand.
shippingherald.cominfo infoOct 22, 2021After 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.
