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China's record corn buying spree this year has led to vessel congestion outside southern ports, with some ships delayed up to a month and incurring demurrage fees. The import surge is tied to strong demand for feed grains.
Record Chinese corn imports support export demand for U.S. and other origins, while port delays raise logistics costs and may temporarily slow the flow of cargoes.
bloomberg.comJun 11, 2021After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% over 20.
Not enough comparable past events yet for a historical read.
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.
