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Corn sales cancellations from China and reported difficulty sourcing enough U.S. corn for barge loadings are weighing on old-crop sales commitments. Brazil's bumper crop is flooding export markets with cheaper corn, while new-crop supply concerns persist.
Cheaper Brazilian corn competing for export business and cancelled U.S. commitments pressure near-term U.S. corn prices. Tight old-crop stocks limit the downside for nearby contracts.
agupdate.comMay 25, 2023After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
