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China imported almost 5 million tons of corn in January and February, more than five times the year-earlier amount, including a record monthly high of 3 million tons in January. Wheat, beef, pork and sorghum imports also jumped sharply as Beijing rebuilds its hog herd after African swine fever.
Record Chinese buying of corn and sorghum tightens global feed grain supplies and supports U.S. export prices, with USDA now expecting China's corn imports to triple to 24 million tons this marketing year.
caixinglobal.comMar 19, 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.
After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% 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.
