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For the week ending March 16, unshipped US corn export sales to China exceeded 2.4 million metric tons, more than six times the prior week's total. Weekly grain carloads on Class I railroads were 20 percent below the 5-year average for the week ending March 18.
BNSF originated just over two-thirds of its usual grain carloads, partly due to weather and track disruptions.
Large Chinese corn purchases add future export demand and support US corn prices. Weak rail car loadings signal near-term transport constraints that could limit how quickly those sales ship.
doi.orgMar 30, 2023After 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.
