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Corn prices on Chicago for March delivery lost $1/t in the week to January 14 to about $235/t, with high volatility. The USDA January report raised US corn production by 1 Mt and cut Brazilian carryover stocks by 2.5 Mt, while the IGC cut world maize output and consumption by 4 Mt.
A tight world corn stocks-to-use ratio at a 10-year low and reduced Brazilian stocks support feed corn prices, while revised US ethanol use and the possible biofuel mandate cut add uncertainty.
maizeurop.comCEPMJan 20, 2022After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
