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Chinese buyers have returned to purchasing large volumes of U.S. corn. Domestic processors in China are raising bids to secure enough supply to keep operating, and U.S. processors are also bidding for cash corn.
Strong export demand and competing domestic bids tighten U.S. cash corn supply, which supports higher corn prices. Feed processors may switch to high-protein wheat if corn becomes too expensive.
feedandgrain.comMar 18, 2021After 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 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), 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.
