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A Chongqing Mintai company note says China's hog herd has grown about 50% from its mid-2019 low, sustaining feed demand. It also cites a USDA flash sale of 1.36 million tonnes of US corn to China and a forecast of 17.5 million tonnes of corn imports in 2020/21, up 130%.
Rising Chinese hog numbers and large corn import forecasts support continued demand for US corn and feed grains, a bullish price factor.
cqnewmiti.comFeb 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.
After 696 past bullish trade events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.
