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USDA reported a daily export sale of 2.108 million tonnes of corn to China, the second-largest on record, with China also buying about 132,000 tonnes of soybeans for 2021/22. Bloomberg reported China is on course to become the world's largest corn importer, possibly exceeding its WTO quota.
Large, concentrated Chinese corn buying tightens U.S. and global corn supplies, supporting prices and reinforcing expectations of record import demand.
farmpolicynews.illinois.eduKeith GoodJan 31, 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, Soybeans 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.
