Small rebound in global grain prices

European and American corn recovered on Tuesday after falling on Monday to their lowest level in almost three and a half years. “We knew, at the start of the week, that China had returned to purchasing a little,” explained Damien Vercambre, of the Inter-Courtage firm. According to the specialist site Fastmarkets, buyers from the People's Republic purchased French, Australian and Ukrainian barley. They also placed an order for Ukrainian corn, while American farmers placed 123,000 tonnes of soybeans to an unknown destination, which several analysts suggest is also China. “China only comes at decisive moments, when it considers that it is a good level (of price) to buy,” underlines Damien Vercambre. “This will perhaps prevent the market from shifting (falling) further. » “This shows that they still have an appetite,” comments Dax Wedemeyer of US Commodities. The market also benefited from profit-taking by investment funds and speculative players, encouraged by low prices, but also by ...