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The US agricultural export forecast was raised, with reduced competition from other grain suppliers cited as a factor. The outlook came with an accompanying presentation and a statement from the Agriculture Secretary.
A higher US export forecast means stronger demand for US corn, soybeans and wheat, which supports US futures and basis levels.
After 1,051 past bullish report events, Corn moved a median +0.6% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.