Loading…
A Reuters column argues that USDA's monthly report contradicts the market view that Chinese corn inventories are thinning. USDA raised Chinese corn imports, but the higher projected use did not offset the added supply, which pushed up domestic stocks.
The text is cut off before the full argument.
If Chinese stocks are rising rather than falling, China's import demand may be less supportive for U.S. corn prices than the market has assumed.
reuters.comKaren BraunFeb 10, 2021After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
