# China’s record corn purchases have traders wondering if bump can last

> 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.

- Date: 2021-02-12 · published 2021-02-12T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/48655-china-s-record-corn-purchases-have-traders-wondering-if-bump-can-last
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [DDGS](https://feedsoft.ai/c/DDGS.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md)

## Why it matters

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.

## Read by commodity

- CORN: bullish ▲
- DDGS: bullish ▲
- SORGHUM: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-07-14 | [China books record U.S. corn purchase, also buys soybeans \| Reuters](https://feedsoft.ai/events/51978-china-books-record-u-s-corn-purchase-also-buys-soybeans-reuters.md) | -1.1% | -3.2% |
| CORN | 2020-07-10 | [China books second-biggest U.S. corn purchase on record, also buys wheat](https://feedsoft.ai/events/51981-china-books-second-biggest-u-s-corn-purchase-on-record-also-buys-wheat.md) | -4.9% | -7.5% |
| CORN | 2020-07-14 | [China Makes Record U.S. Corn Purchase \| Farm Policy News \| Illinois](https://feedsoft.ai/events/51985-china-makes-record-u-s-corn-purchase-farm-policy-news-illinois.md) | -1.1% | -3.2% |
| CORN | 2019-03-25 | [China Purchases U.S. Sorghum, Corn as Trade Talks Continue \| DRGNews](https://feedsoft.ai/events/59966-china-purchases-u-s-sorghum-corn-as-trade-talks-continue-drgnews.md) | -5.0% | -5.6% |
| CORN | 2020-03-24 | [China makes largest U.S. grain purchases since start of trade war - UPI.com](https://feedsoft.ai/events/54008-china-makes-largest-u-s-grain-purchases-since-start-of-trade-war-upi-com.md) | +6.1% | -4.7% |

## Sources

- ft.com: https://www.ft.com/content/94b04a3e-6169-4b07-8218-413138c641a1?syn-25a6b1a6=1

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.