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Chinese policymakers have been working to cool surging commodity prices, including coal, copper and other metals that have squeezed manufacturers' margins. The government has sold state reserves of coal, metals and imported corn, while buying pork to support a slumping hog market.
The article provides a timeline of government actions since April.
Chinese sales of state corn reserves add supply to the market, while pork purchases signal efforts to support hog prices and could affect feed demand. These interventions make Chinese feed and grain demand less predictable for global buyers.
reuters.comAug 4, 2021After 310 past bearish policy events, CORN moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% over 20.
After 36 past bullish policy events, HOGS moved a median +0.0% over 5 sessions (53% higher; middle half -2.8% to +1.2%), 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.
