# Corn holds firm near 7-1/2 year high on China demand | Financial Post

> Chicago corn futures held near a 7.5-year high after the USDA confirmed three sales of US corn to China totaling 3.74 million tonnes. Soybeans and wheat were also firm, supported by Chinese demand and worries about the South American crop. Argentina's soybean estimate was trimmed on hot weather.

- Date: 2021-01-29 · published 2021-01-29T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/49182-corn-holds-firm-near-7-1-2-year-high-on-china-demand-financial-post
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Large Chinese purchases are tightening US supplies ahead of an uncertain South American harvest, which supports corn, soybean and wheat prices. Feed buyers face higher input costs while these export sales continue.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-09-17 | [Soybeans at 27-month high on Chinese demand, corn dips \| Financial Post](https://feedsoft.ai/events/9343-soybeans-at-27-month-high-on-chinese-demand-corn-dips-financial-post.md) | -0.3% | +4.1% |
| CORN | 2019-12-12 | [Corn, wheat, soy rally on U.S.-China trade hopes, export demand \| Financial Post](https://feedsoft.ai/events/6298-corn-wheat-soy-rally-on-u-s-china-trade-hopes-export-demand-financial-post.md) | +5.5% | +5.7% |
| CORN | 2021-03-17 | [Corn lingers around over one-week high on strong export demand \| Financial Post](https://feedsoft.ai/events/10762-corn-lingers-around-over-one-week-high-on-strong-export-demand-financial-post.md) | +11.0% | +14.2% |
| CORN | 2020-07-16 | [Soy, corn higher on improving export demand for U.S. supplies \| Financial Post](https://feedsoft.ai/events/52159-soy-corn-higher-on-improving-export-demand-for-u-s-supplies-financial-post.md) | +0.8% | -0.4% |
| CORN | 2020-03-20 | [Wheat extends rally as China demand assessed \| Financial Post](https://feedsoft.ai/events/7271-wheat-extends-rally-as-china-demand-assessed-financial-post.md) | -0.6% | -3.1% |
| SOY | 2020-09-17 | [Soybeans at 27-month high on Chinese demand, corn dips \| Financial Post](https://feedsoft.ai/events/9343-soybeans-at-27-month-high-on-chinese-demand-corn-dips-financial-post.md) | +0.3% | +4.4% |
| SOY | 2019-12-12 | [Corn, wheat, soy rally on U.S.-China trade hopes, export demand \| Financial Post](https://feedsoft.ai/events/6298-corn-wheat-soy-rally-on-u-s-china-trade-hopes-export-demand-financial-post.md) | +3.9% | +4.6% |
| SOY | 2020-07-16 | [Soy, corn higher on improving export demand for U.S. supplies \| Financial Post](https://feedsoft.ai/events/52159-soy-corn-higher-on-improving-export-demand-for-u-s-supplies-financial-post.md) | +1.5% | +0.5% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/corn-holds-firm-near-7-1-2-year-high-on-china-demand

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