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Chinese buyers have bought about 10 to 12 cargoes of mainly U.S. corn in the past month and are expected to buy more. The purchases are for February to April arrivals at about 1,530 yuan a tonne landed in Guangdong, roughly 300 yuan cheaper than domestic corn.
A record spread between Chinese domestic and Chicago prices is pulling U.S. corn exports higher, which supports U.S. corn prices and export demand.
customstoday.mediaCT ReportNov 29, 2017After 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.
