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USDA FAS forecasts Mexico's 2024/25 corn, rice and sorghum production higher year on year due to better rainfall and recovery from drought. Corn and rice imports are forecast lower, while wheat imports are estimated higher on below-average wheat output.
Lower Mexican corn and rice import needs reduce demand for US corn and rice, while higher wheat imports partly offset this for wheat exporters.
fas.usda.govSep 24, 2024After 1,102 past bearish report events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 87 past bearish report events, RICE moved a median +0.0% over 5 sessions (53% higher; middle half -2.1% to +2.4%), and +1.1% over 20.
After 769 past bullish report events, WHEAT moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
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.
