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USDA reported China made another 2.6 million bushel purchase of U.S. sorghum last week and also announced significant U.S. corn purchases. The buying occurred as U.S. and Chinese officials continued trade talks, with negotiators set to meet in Beijing.
Fresh Chinese purchases of U.S. sorghum and corn support export demand and firm prices for feed grains. Continued buying would signal that the trade talks are supporting agricultural flows.
drgnews.comDRG Media Group NewsMar 25, 2019Not enough comparable past events yet for a historical read.
After 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.
