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Chinese customs is restricting corn imports into free trade zones, which are not counted toward the official purchase quota. Total U.S. corn cancellations are estimated at under 1 million tons, and Chicago corn futures fell as much as 2% before recovering.
Cancellations and tighter customs scrutiny reduce near-term Chinese demand for U.S. corn, though the volume is small relative to tight supplies.
caixinglobal.comMay 27, 2021After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
