Mar 04, 2022

Worried About Supplies, China Buys U.S. Corn, Soybeans

Following Russia’s invasion of Ukraine and weaker-than-expected supply from Brazil, country snaps up U.S. grain

China is buying U.S. corn and soybeans as part of efforts to mitigate the risks to commodity supplies from Russia’s war in Ukraine and slower harvests in South America, reports Bloomberg.

Chinese buyers recently booked about 20 cargoes of American soybeans and about 10 shipments of corn, according to traders who asked not to be identified as they aren’t authorized to speak publicly.

The buying spree reflects robust demand in the top importer as worries over supplies grow following Russia’s invasion of Ukraine and weaker-than-expected supply from Brazil, the world’s biggest soybean producer.

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Magazine

Marketwatch: Dec, 04

US Corn Price Idx: ZCPAUS.CM

open: 6.6315
high: 6.639
low: 6.5186
close: 6.5223

US Soybean Price Idx: ZSPAUS.CM

open: 14.0559
high: 14.2018
low: 14.0271
close: 14.1559

US Hard Red Winter Wheat Price Idx: KEPAUS.CM

open: 8.3204
high: 8.387
low: 8.229
close: 8.348

US Soft Red Winter Wheat Price Idx: ZWPAUS.CM

open: 6.9624
high: 6.9919
low: 6.8493
close: 6.8985