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FAPRI's fall update of the US Baseline Outlook projects the 2021 corn marketing-year average price at $5.34 per bushel, the highest since the 2012 drought year. The projection cites strong Chinese import demand and reduced Brazilian production.
Prices are expected to ease in later years as Brazil's crop rebounds.
A projected corn price at a multi-year high raises feed costs for buyers, and the forecast assumes tight supplies through the coming marketing year.
cafnr.missouri.eduKate PrestonSep 29, 2021After 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.
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.
