# Corn futures poised to go higher, but not for the reason you think

> USDA's December report left the 2020/21 US corn balance sheet unchanged, with carryout at 1.7 billion bushels and a stocks-to-use ratio of 11.5%. Exports are pegged at a record 2.65 billion bushels, and cumulative sales are at 67% of the USDA forecast.

- Date: 2020-12-17 · published 2020-12-17T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/10132-corn-futures-poised-to-go-higher-but-not-for-the-reason-you-think
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Record export expectations and tight stocks-to-use provide fundamental price support, with further USDA cuts to supply potential possible.

## Read by commodity

- DXY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2018-10-11 | [WASDE report pushes corn, soybean futures higher - RealAgriculture](https://feedsoft.ai/events/62482-wasde-report-pushes-corn-soybean-futures-higher-realagriculture.md) | +4.1% | +4.1% |
| CORN | 2021-12-01 | [Corn and soybean futures advance after report, but outlook not bullish \| World Grain](https://feedsoft.ai/events/13402-corn-and-soybean-futures-advance-after-report-but-outlook-not-bullish-world.md) | +8.0% | +4.8% |
| CORN | 2019-02-04 | [Breaking down the friendly corn fundamentals: 5 facts you need to know - High Plains Journal](https://feedsoft.ai/events/60637-breaking-down-the-friendly-corn-fundamentals-5-facts-you-need-to-know-high.md) | -1.0% | -0.8% |
| CORN | 2020-06-30 | [CBOT corn futures climb - Markets - Business Recorder](https://feedsoft.ai/events/12775-cbot-corn-futures-climb-markets-business-recorder.md) | +3.3% | -1.5% |
| CORN | 2020-11-11 | [CME update: feed cattle futures dip as corn prices rise
						 \| The Cattle Site](https://feedsoft.ai/events/7939-cme-update-feed-cattle-futures-dip-as-corn-prices-rise-the-cattle-site.md) | +7.9% | +7.0% |
| DXY | 2019-10-10 | [Chart Of Note: U.S. Exports Of Feed Grains In All Forms (GIAF) Decline In 2018/2019, But Still Represent Third Largest Year On Record - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/56530-chart-of-note-u-s-exports-of-feed-grains-in-all-forms-giaf-decline-in-2018-2019.md) | -1.2% | -1.3% |
| DXY | 2022-08-11 | [The Federal Reserve and U.S. Treasury Did Not Intervene in FX Markets During the Second Quarter - FEDERAL RESERVE BANK of NEW YORK](https://feedsoft.ai/events/40215-the-federal-reserve-and-u-s-treasury-did-not-intervene-in-fx-markets-during-the.md) | +1.1% | +3.2% |
| DXY | 2022-08-19 | [Lower Slaughter Numbers Drive Pork Prices Higher - Pork Business](https://feedsoft.ai/events/40186-lower-slaughter-numbers-drive-pork-prices-higher-pork-business.md) | +0.6% | +2.1% |

## Sources

- farmprogress.com: https://www.farmprogress.com/marketing/corn-futures-poised-to-go-higher-but-not-for-the-reason-you-think

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.