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China's grain imports hit record highs in 2020, with corn imports reaching a record 11.3 million tonnes and wheat imports a record 8.38 million tonnes. Corn imports exceeded the annual tariff-rate quota for the first time, driven by tight domestic corn supplies and a recovering pig sector.
Record Chinese corn and wheat import demand tightens global supplies and supports prices, especially as domestic shortfalls and hog herd recovery sustain buying.
reuters.comJan 18, 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 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), 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.
