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USDA economists said China will import a record 24 million tonnes of corn in the current marketing year, triple last year's level. They also project record wheat imports of 10 million tonnes and substantial wheat and rice use in feed as domestic corn prices stay at a premium.
Record Chinese feed-grain imports support global corn and wheat export demand and underpin prices, while wheat feed substitution shows the corn premium is shaping trade flows.
agriculture.comChuck AbbottFeb 10, 2021After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
After 50 past neutral report events, Rough Rice moved a median -0.0% over 5 sessions (50% higher; middle half -1.9% to +1.5%), and -1.2% 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.
