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Chicago December corn rose $6 per tonne to $165 between October 16 and 23. Net US export sales reached 1.8 Mt, including 434 kt for China, and Chinese imports are running above 1 Mt per month.
South American maize remains constrained by slow sowing and drought in Argentina and Brazil.
Sustained Chinese buying and tight non-South American supply support corn prices, while South American weather risk adds upside pressure for feed buyers.
maizeurop.comCEPMOct 29, 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.
