Loading…
A weekly grain market outlook notes that corn prices in China have risen to about $340 per tonne CFR, after lower 2020 production and subsidy changes. Chinese import plans are expected to exceed announced tariff-rate quota volumes, and Brazil's planting has been delayed.
Oil prices were falling ahead of the OPEC+ meeting on March 4.
Expected Chinese import demand above quota and Brazilian seeding delays support corn prices, while falling crude oil weighs on the complex. The net effect is bullish corn with bearish energy-linked sentiment.
millermagazine.comNewclick Dijital Reklam AjansıMar 9, 2021After 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 80 past bearish trade events, WTI moved a median -2.2% over 5 sessions (30% higher; middle half -6.9% to +0.8%), and -1.5% 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.
