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Cofco has sold 10 million tons of imported grain to domestic private mills and will likely boost US corn purchases further. Traders estimate China's total US corn imports could reach 30 million tons next year.
A potential jump in Chinese US corn imports to 30 million tons would tighten export availability and could lift global corn prices.
bloomberg.comBloomberg NewsNov 26, 2020After 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.
