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China's soybean futures on the Dalian exchange hit a record high on tight domestic supply. Some Chinese farmers are expected to switch from soybeans to corn on better profits, and China plans to raise corn planting by at least 667,000 hectares.
Higher edible oil prices also supported the rally.
Tight Chinese supply and strong import demand support global soybean prices. Expected acreage shift to corn in China could reduce future domestic soybean output and increase import needs.
brecorder.comReutersMar 1, 2021Not enough comparable past events yet for a historical read.
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.
