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Chinese buyers are inquiring about US corn and sorghum after purchasing the largest volume in almost seven years less than a week earlier. Crashing US prices have made the yellow grain used in feed and biofuel more attractive, while Chinese domestic demand is seen remaining strong.
Renewed Chinese interest in cheap US corn could firm export demand and support US corn values from low levels.
bloomberg.comBloomberg NewsMar 24, 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.
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.
