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The US Grains Council's March 23 market perspectives report says Chinese corn futures and spot prices hit six-year lows as the government liquidated reserve stocks. Feed mills bought 1.2 to 1.3 million tonnes of corn, sorghum and barley for May-June delivery, and Indonesia imposed non-tariff barriers on imported corn.
Chinese reserve selling and Indonesian import barriers weigh on global corn export demand, while feed mill purchases give limited support to sorghum and barley.
grains.orgMar 23, 2017grains.orgMar 23, 2017grains.orgMar 23, 2017Not enough comparable past events yet for a historical read.
After 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.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
