# Corn, Soybean Prices Climb, While Record Chinese Corn Imports Expected - Farm Policy News

> USDA's Beijing office projected China's 2020/21 corn imports at a record 28 million metric tons, driven by a need to rebuild hog herds after African swine fever. It also forecast China's 2021/22 corn purchases would fall to 15 million tons as Beijing leans on wheat and rice stocks. Corn futures rose above $6 a bushel to their highest level in almost eight years.

- Date: 2021-04-22 · published 2021-04-22T12:00:00.000Z
- Category: trade · region China · magnitude high
- Page: https://feedsoft.ai/events/6621-corn-soybean-prices-climb-while-record-chinese-corn-imports-expected-farm
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Record Chinese import demand tightens global corn supplies and supports prices for US feed grains. The forecast drop for next season is a partial offset that limits how far the rally can run.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-07-14 | [China Makes Record U.S. Corn Purchase \| Farm Policy News \| Illinois](https://feedsoft.ai/events/51985-china-makes-record-u-s-corn-purchase-farm-policy-news-illinois.md) | -1.1% | -3.2% |
| CORN | 2021-04-21 | [U.S. Soybean Exports to China Swell in March, as Brazil Suspends Corn, Soy Import Duties \| Farm Policy News \| Illinois](https://feedsoft.ai/events/47453-u-s-soybean-exports-to-china-swell-in-march-as-brazil-suspends-corn-soy-import.md) | +14.7% | +11.9% |
| CORN | 2021-01-05 | [Phase One Ag Targets Lag, But U.S. Soybean and Corn Exports to China Surge \| Farm Policy News \| Illinois](https://feedsoft.ai/events/49008-phase-one-ag-targets-lag-but-u-s-soybean-and-corn-exports-to-china-surge-farm.md) | +3.1% | +14.6% |
| CORN | 2021-08-18 | [China’s Hog Herd Expands, But Sow Numbers Fall in July- U.S. Corn Exports at Record Levels \| Farm Policy News \| Illinois](https://feedsoft.ai/events/45565-china-s-hog-herd-expands-but-sow-numbers-fall-in-july-u-s-corn-exports-at.md) | -1.4% | -10.1% |
| CORN | 2021-04-23 | [Corn, Wheat and Soybean Prices Continue to Surge, China Buys U.S. Corn for Fourth-Quarter Shipment \| Farm Policy News \| Illinois](https://feedsoft.ai/events/10291-corn-wheat-and-soybean-prices-continue-to-surge-china-buys-u-s-corn-for-fourth.md) | +10.5% | +8.1% |
| WHEAT | 2018-07-22 | [Tariffs and Commodity Prices: Impacts and Reactions - Farm Policy News](https://feedsoft.ai/events/6567-tariffs-and-commodity-prices-impacts-and-reactions-farm-policy-news.md) | +2.5% | +2.3% |
| WHEAT | 2020-11-20 | [China Targets U.S. Farm Imports With Tariffs on Soy, Corn - Pork Business](https://feedsoft.ai/events/50015-china-targets-u-s-farm-imports-with-tariffs-on-soy-corn-pork-business.md) | -2.9% | +4.7% |
| WHEAT | 2021-02-02 | [Record wheat exports from Russia increases pressure on prices](https://feedsoft.ai/events/48490-record-wheat-exports-from-russia-increases-pressure-on-prices.md) | +0.3% | +11.6% |

## Sources

- farmpolicynews.illinois.edu: https://farmpolicynews.illinois.edu/2021/04/corn-soybean-prices-climb-while-record-chinese-corn-imports-expected/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.