U.S. Corn Futures

[tmyrfield]

According to Tuesday's USDA report, China's corn ending stocks jumped 4.5 million MT over the past month to about 198 MMT. If accurate, this suggests China corn stocks are now down only 2% year-over-year.

But Dalian corn futures are trading nearly 50% higher year-over-year having reached all-time highs in January.

so china reports that their corn stocks are only down 2%...the market believes them. market tanks, china cancels orders and buys at new lower price.

SMH how many times is everybody going to fall for this BS?

but i guess criticizing china is now racist or some such thing...

[farming101]

According to Tuesday's USDA report, China's corn ending stocks jumped 4.5 million MT over the past month to about 198 MMT. If accurate, this suggests China corn stocks are now down only 2% year-over-year.

But Dalian corn futures are trading nearly 50% higher year-over-year having reached all-time highs in January.

A few days earlier the FAO revised China corn stocks down by 54 MMT to 139MMT.
The difference between these two forecasts is stupid.
Meanwhile corn spot prices in China are reportedly around 14.30 CAD/Bu?

[jazz]

Looks like shakeout of the nervous and weak hands.

They wouldnt have been cleaning out the US production and forward contracting a yr out if their stocks were so plentiful.

Hold.