Loading…
China bought a record 11.3 million tonnes of corn last year, with more than a third sourced from the US. In late January the USDA reported a further 2.1 million tonne sale to China, the largest single sale in history.
Global corn prices have risen above $5 a bushel, near an eight-year high.
Heavy Chinese import demand is driving the corn rally, and traders are questioning whether the buying can be sustained. Any slowdown in Chinese purchases would weigh on corn and feed-grain prices.
ft.comEmiko Terazono in London, Sun Yu in BeijingFeb 12, 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.
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.
