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DTN reports that USDA estimated the 2022 US corn crop at 13.93 billion bushels and that export commitments by late October were under half of last year's pace. Barge restrictions on the low Mississippi due to drought will delay corn shipments until about February 2023.
Slow US export commitments and shipping limits on the Mississippi weigh on near-term corn demand and basis, while expected Ukrainian export declines could support a firmer US export outlook in 2023.
dtnpf.comTodd HultmanDec 1, 2022After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% 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.
