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Corn prices fell sharply last week on trade uncertainty and a strong start to the growing season. The June WASDE cut 2017-18 ending stocks by 80 million bushels and 2018-19 stocks by 105 million, with exports running at a healthy pace.
Lower projected US ending stocks and firm export demand suggest the corn selloff has overshot and that prices could recover.
origin.farmdocdaily.illinois.eduMark AlthouseJun 18, 2018After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% 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.
