China Might Be Canceling Corn Purchases

Grain Markets and Other Stuff

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China's Corn Purchase from Ukraine: China is set to import 600,000mt of corn from Ukraine by the end of April, with an additional 400,000mt slated for May, as part of an expected 22mmt corn export season for Ukraine; China's increased grain imports driven by lower global prices and reduced domestic production. 🌽🇨🇳🇺🇦
Upcoming Storm System in US Corn Belt: Northwestern US Corn Belt braces for significant storm system next week, with eastern areas expecting rainfall while western regions remain dry; Northern Plains and northwest Corn Belt forecasted to experience storms with possible rain and snow, potentially affecting HRW wheat country in Southern Plains. 🌧️🌾❄️
Higher-than-Expected US Consumer Prices: US consumer prices rose 3.5% in March, slightly above economists' forecast of 3.4% and February's 3.2% increase, leading to stock market declines; investors now anticipate fewer rate cuts by the Fed, possibly delaying cuts until July or later amid persistently high inflation. 💲📉📈
USDA's Monthly Crop Production and WASDE Report: USDA to release monthly report featuring old crop data for the US, with new crop balance sheets for corn and soybeans expected in May; trade expects lower Brazilian production estimates and minimal changes to old crop US balance sheets. 🌱📊📉
Iran-Israel Conflict Impact on Oil Prices: Brent crude surpasses $90 a barrel as anticipation mounts for an attack on Israel by Iran or its allies, following heightened tensions in the Middle East; conflict contributes to 16% rise in oil prices since the year's start, with Biden administration pledging support for Israel in case of an attack. ⚔️🛢️💥