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Falling U.S. corn prices, which hit a seven-month low on March 10, prompted a run of Chinese purchases, with USDA confirming a 204,000-tonne sale and eight purchases in nine business days. Weekly export sales to China reached 2.245 million tonnes in the week ended March 16, the third-largest weekly total on record.
Traders expect the U.S. to remain China's dominant corn supplier until Brazil's safrinha harvest in June, with Argentina's crop reduced by drought.
Chinese buying at low prices tightens nearby U.S. export supply and supports corn futures, while Argentine drought and a June Brazilian harvest set the timeline for how long the U.S. stays dominant.
farmpolicynews.illinois.eduKeith Good26 Mar 2023Setelah 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.
