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Agweek analyst Allison Thompson described the March WASDE as relatively quiet and leaning bearish, yet grain prices rose afterward. U.S. corn and soybean ending stocks were unchanged, with corn exports running 33% ahead of last year and ethanol about 5% higher.
Strong corn export and ethanol demand underpin prices even though the report was neutral, and the post-report rally suggests other forces are supporting the market.
agweek.comAllison ThompsonMar 15, 2024Not enough comparable past events yet for a historical read.
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.
