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China's 2018/19 corn production forecast was lowered due to weather and pest stress, and China imposed additional tariffs on US sorghum that are expected to reduce imports. MY2018/19 rice import forecasts were also lowered as domestic rice became cheaper, and state corn auctions were record-sized.
Lower Chinese corn output and reduced US sorghum imports tighten feed grain demand for US sorghum, while lower rice imports weigh on rice export prices.
farming.co.ukOct 2, 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.
After 141 past bearish trade events, Rough Rice moved a median +0.6% over 5 sessions (57% higher; middle half -2.3% to +2.4%), and -0.6% 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.
