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The USDA said Chinese buyers struck deals to purchase 195,000 tonnes of U.S. corn in its daily export sales reporting. The purchase comes as China faces spiking domestic corn prices.
Fresh Chinese demand for U.S. corn supports export flows and Chicago corn prices while Chinese domestic supply is tight. Continued buying would tighten U.S. feed grain availability for buyers.
reuters.comAug 18, 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.
