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Market commentary says maize prices are moving sideways on the CBOT as the North American harvest completes and focus shifts to dry conditions in Argentina and Brazil. European harvest delays and high gas drying costs are also noted, along with a record Chinese harvest.
Dryness in South America could tighten export supplies and support corn prices, while ethanol demand provides a floor in the US.
en.boerenbusiness.nlNiels van der BoomDec 6, 2021After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% 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.
