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European maize prices rose after new data showed US farmers would plant fewer hectares of maize for 2018/19 than expected, lifting Euronext prices 4% in one day. Indonesia agreed to buy 300,000 tonnes of rice from Vietnam and 200,000 from Thailand, while palm oil eased month on month in Europe.
Smaller expected US corn plantings are bullish for corn and feed-grain costs. Indonesian rice demand adds support to Asian rice markets.
thegrocer.co.ukCarina PerkinsApr 26, 2018After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 88 past bullish report events, Rough Rice moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +2.1%), and +2.5% over 20.
After 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), and -0.9% 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.
