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Bloomberg reports China has bought at least 1 million metric tons of US corn for fourth-quarter shipment, with US exporters already selling over 20 million tons for the current season. Chicago July corn rose as much as 4.1% to $6.315 a bushel, the highest most-active price since 2013.
Forward buying by China from the new crop, amid rebuilding hog herds and Brazilian dry weather, tightens global corn supplies and pushes prices higher for feed buyers.
caixinglobal.comApr 23, 2021After 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.
Not enough comparable past events yet for a historical read.
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.
