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A USGBC market roundup reports China's sorghum imports surged in May due to a lack of corn import quota, and the government is weighing a larger corn quota. The EU raised its corn crop estimate to a possible record 71.9 MMT, and India cut its corn import tax to 15% for up to 500,000 tonnes.
Chinese and Indian import policy changes and a larger EU crop shift global corn and sorghum trade flows, with the EU crop cutting import demand and India's tariff cut supporting imports.
grains.orgJun 25, 2020grains.orgJun 25, 2020grains.orgJun 25, 2020Not enough comparable past events yet for a historical read.
After 439 past neutral policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% over 20.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
