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Ukraine's corn crop fell sharply, but large carry-in stocks are keeping exports strong. The Black Sea Grain Initiative has raised Ukraine's export capacity and pushed some competition, including US supply, out of key markets.
Ample Ukrainian stocks and export access add supply to world corn markets and reduce demand for US corn, which is bearish for corn prices despite the smaller harvest.
reuters.comKaren BraunDec 14, 2022After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
