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A USDA Foreign Agricultural Service report says Indonesia's self-sufficiency campaign blocks feed corn imports and discourages substitutes, lifting domestic corn to about $311 per tonne versus a $296 reference price. The ministry allowed 200,000 tonnes of feed wheat imports in October, but is reportedly seeking to curb further feed wheat imports next year.
Blocked corn and substitute imports keep Indonesian feed costs high and reduce import demand, which is bearish for exporters while cutting feed-wheat demand if restrictions tighten.
world-grain.comSusan ReidyDec 7, 2017After 310 past bearish policy events, CORN moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% over 20.
After 122 past bearish policy events, WHEAT moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +1.2%), and +0.4% 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.
