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An Ohio State economist examines China's grain and oilseed sector, noting its production shortfall versus consumption has averaged larger amounts since 2016 and is forecast at 127 million metric tons for 2020. Imports have covered the gap as consumption grows.
A persistent and growing Chinese supply shortfall underpins structural import demand for corn and soybeans, supporting global prices.
farmprogress.comNov 5, 2020After 151 past bullish macro events, Corn moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), and -0.3% over 20.
After 123 past bullish macro events, Soybeans moved a median +0.3% over 5 sessions (60% higher; middle half -1.0% to +1.8%), and -0.4% 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.
