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Dec-24 corn futures rose 8 to 9 cents to a five-week high, and US corn export inspections were in line with expectations. Brazil's center-south planted 8% of its first corn crop, and Celeres forecast Brazil's 2024/25 corn output at 134.1 million tonnes.
Spot canola closed at its lowest level since December 2021 after trading limit down.
Strong US export pace and a larger-than-expected Brazilian crop forecast weigh on the corn balance, with the net effect depending on Brazil's growth. Higher ethanol grind also supports corn demand.
admis.comMark SoderbergSep 3, 2024Not 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.
