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Global feed prices fell in the week ending November 11, led by corn, after USDA raised its US corn production forecast. Mexico reiterated plans to stop importing genetically modified corn, and China will begin importing Brazilian corn from the next month.
The December CBOT corn contract closed at $6.58 a bushel, down 3.4% on the week.
Higher US supply and loss of Mexican demand for GM corn weigh on corn prices, and new Chinese buying of Brazilian corn shifts export competition away from the US.
echemi.comNov 14, 2022Not 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.
