Loading…
Global corn prices reached an eight-year high as China bought at least 5.8 million tonnes in a single week to rebuild its hog herd. Poor US production, snowy conditions in South America and a weak Ukrainian crop, which must now import 7.5 million tonnes, added further support.
Strong Chinese import demand combined with tighter supply from the US, South America and Ukraine tightens global corn stocks and supports higher corn and feed prices.
czapp.comTania AguilarFeb 2, 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.
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.
