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Bloomberg reports Chinese officials are preparing to restart U.S. corn purchases as soon as January, possibly buying at least 3 million metric tons. Corn futures gained on the news while soybeans and wheat declined.
Potential Chinese corn demand of 3 million tons would tighten U.S. corn export balances and support futures, benefiting feed grain prices.
bloomberg.comBloomberg NewsDec 14, 2018
ttnews.comDec 14, 2018Not 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.
