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China is shifting to opportunistic buying of US grain as price volatility rises after record highs peaked in May. CoBank expects China to remain an active buyer of US grain through at least the 2021-22 marketing year, with contracting for the next year now under way.
Buying on price weakness rather than steady demand makes US corn, sorghum and soybean prices more volatile, with dips likely to draw Chinese purchases.
feedstuffs.comJul 2, 2021After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
Not enough comparable past events yet for a historical read.
After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), 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.
