
HighGround Dairy's Curtis Bosma explains that corn price volatility returned in 2020-21 due to weather, massive Chinese imports and inflation. China's hog herd rebuild after African swine fever drove corn imports to a projected 26 million metric tons in 2020-21, up sharply from 7.6 million in 2019-20.
Large Chinese import demand for corn and soybeans tightened supplies and raised feed costs, and continued herd rebuilding would keep demand firm. The piece is explanatory rather than a new market event.
After 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.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.