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Agri-Pulse reports that China's livestock sector is expanding despite African swine fever, lifting demand for US corn and soybeans for 2020-21. China made its largest ever US corn purchase of 1.762 million tonnes on July 14, following a 1.365 million tonne purchase on July 10.
These two sales made China the top buyer of new-crop US corn.
Large Chinese purchases of new-crop US corn and soybeans tighten US export supply and support prices for feed grains.
agweek.comJenny SchlechtJul 16, 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.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% 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.
