# DEEP BLUE OCEAN | Miller Magazine

> 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.

- Date: 2021-03-09 · published 2021-03-09T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/7084-deep-blue-ocean-miller-magazine
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

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.

## Read by commodity

- WTI: bearish ▼
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-11-15 | [Ethanol Producer Magazine](https://feedsoft.ai/events/27504-ethanol-producer-magazine.md) | +0.8% | +1.3% |
| CORN | 2021-06-16 | [Black Sea Wheat Exports To Grow 5% In 2021/22 \| ESM Magazine](https://feedsoft.ai/events/46432-black-sea-wheat-exports-to-grow-5-in-2021-22-esm-magazine.md) | -2.3% | +2.5% |
| CORN | 2018-03-07 | [Milo Market Mauled by Dragon](https://feedsoft.ai/events/66062-milo-market-mauled-by-dragon.md) | +2.6% | +3.8% |
| CORN | 2024-11-08 | [U.S. corn exports to Mexico hit record high - Cultivar Magazine](https://feedsoft.ai/events/27401-u-s-corn-exports-to-mexico-hit-record-high-cultivar-magazine.md) | -1.4% | -2.0% |
| CORN | 2026-04-20 | [Turkish corn import quota supports exports through Ukrainian ports \| Ukrainian and World Shipping News - Ukrainian Shipping Magazine - Ukrainian and World Shipping News](https://feedsoft.ai/events/14120-turkish-corn-import-quota-supports-exports-through-ukrainian-ports-ukrainian.md) | +1.2% | +2.9% |
| WTI | 2025-04-08 | [Malaysian palm oil extends losses - Markets - Business Recorder](https://feedsoft.ai/events/9625-malaysian-palm-oil-extends-losses-markets-business-recorder.md) | +1.5% | -1.6% |
| WTI | 2019-08-05 | [Oil Slumps Into Bear Market as Trade Tensions Feed Demand Angst - Bloomberg](https://feedsoft.ai/events/10827-oil-slumps-into-bear-market-as-trade-tensions-feed-demand-angst-bloomberg.md) | -2.2% | -1.1% |
| WTI | 2025-07-22 | [Oil prices fall as key trade talks falter ahead of tariff deadline](https://feedsoft.ai/events/23931-oil-prices-fall-as-key-trade-talks-falter-ahead-of-tariff-deadline.md) | -0.8% | -5.7% |

## Sources

- millermagazine.com: https://millermagazine.com/en/blog/deep-blue-ocean-3915

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