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BIMCO expects US grain exports to rise 12% in 2024 from 2023, led by a rebound in maize shipments. Shipments rose 6% year on year in the first seven months, and further gains are expected after the September maize and soybean harvests.
Mississippi River water levels are normal, easing barge movement to ports.
Higher US export volumes support US corn and soybean demand and freight, though the US share of global exports has fallen to 18% amid Brazilian and Argentine competition.
worldcargonews.comWCN EditorialAug 20, 2024After 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.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
