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Chinese buying is lifting U.S. corn demand during the 2020 harvest. China's state reserves are shrinking, and drought and typhoon damage in the northeast corn belt cut yield prospects.
Dalian corn futures hit record highs in mid-October as hog herd rebuilding raises feed demand.
Chinese import demand and tight domestic stocks support export pull on U.S. corn and tighten global feed grain balances. This points to firmer corn prices for feed buyers.
farmprogress.comJacqueline HollandOct 26, 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.
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.
Published on the move date, it ties Chinese buying, shrinking Chinese state reserves and weather-cut yields to stronger demand and tighter supply for corn.
