중국 옥수수 수출 시장 (12월, 2022)

Last Tuesday, the Commodity Futures Trading Commission reported a decrease in agricultural investment fund managers' interest in CME Group corn contracts, from 235,393 and 213,200 the previous weeks to 158,387. This decline is linked to China's decision to purchase Brazilian corn, reducing its reliance on US corn. Brazil's projection for corn exports has been increased to 41.5 million tons for 2021/22 and further to 45.0 million tons for 2022/23, driven by growing Chinese demand. This geopolitical shift, particularly the strain in US-China relations and the unavailability of corn from Ukraine, has led China to seek alternative suppliers, negatively impacting US corn prices but positively affecting the market sentiment in Brazil.