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Chinese corn buyers have made a flurry of bookings of U.S. corn, which had been expected for several weeks. Chinese domestic corn prices remain at historic highs but have drifted lower.
Chinese import demand is supporting U.S. corn exports, but the bookings were largely anticipated, so the market has not reacted strongly. Lower Chinese domestic prices could reduce the appeal of imports over time.
reuters.comKaren BraunMar 18, 2021After 480 past neutral trade events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), 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.
