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China corn purchases questioned

03/09/2012 @ 11:35am

US corn futures drew support Friday from speculation China is buying US corn again. But the timing and prices may not be right. Chinese officials and companies are usually hesitant to make high-profile, politically sensitive moves during the annual meeting of China's national congress, which is underway. Also, China often makes its purchases when US prices are low. Corn prices have likely not slumped enough to generate any new buying, says Shawn McCambridge, senior grains analyst with Jefferies Bache. (owen.fletcher@dowjones.com)

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(END) Dow Jones Newswires

March 09, 2012 12:27 ET (17:27 GMT)

DJ MARKET TALK: Timing, Prices Undercut Talk Of China Corn Buying->copyright

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You are right but, ........ 03/09/2012 @ 2:40pm ...... China will buy at any cost if it suits their purposes. They WILL ALWAYS build inventories if they are down. They will always try and buy ahead if they know they need fairly large quantities and can't assure prices won't be higher as a result. Tantalizing clues if China is buying. They always have a tactical or strategic reason even if we don't know what it is yet. IF they are buying now then I believe they will buy much more later.

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