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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.
agweb.com17 de mar. de 2021Após 729 eventos altista de comércio passados, Milho subiu em mediana +0,4% em 5 sessões (56% de alta; metade central de -1,1% a +1,8%), e +0,5% em 20.
Variações do benchmark de cada commodity desde o último fechamento antes do evento. As leituras históricas agregam eventos passados do mesmo tipo; descrevem o que aconteceu, não o que vai acontecer. Não é recomendação de investimento.
Two large Chinese corn purchases in one week, seen as genuine demand tied to Brazil safrinha dryness risk, were bullish for prices.
