China made two large corn purchases in the same week that US and Chinese officials were set to meet. Private exporters reported sales of 1.224 million mt of corn for delivery to China in the 2020/21 marketing year.
Arlan Suderman of StoneX says the demand is genuine and linked to dryness risk for Brazil's safrinha corn crop.
Continued Chinese buying of US corn tightens export supplies and supports prices. Expected dryness in Brazil's safrinha crop could also keep export competition limited.
Setelah 729 peristiwa perdagangan bullish sebelumnya, Jagung bergerak median +0,4% selama 5 sesi (56% lebih tinggi; separuh tengah -1,1% sampai +1,8%), dan +0,5% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.
Two large Chinese corn purchases in one week, seen as genuine demand tied to Brazil safrinha dryness risk, were bullish for prices.