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Corn futures settled higher for the first time in six sessions after USDA cut its 2021-22 US corn ending stocks by 7 million bushels to about 1.49 billion and raised ethanol use by 50 million bushels. December wheat also rose 1.4% as US wheat ending stocks were kept at their lowest since 2007/08.
Tighter US corn and wheat balance sheets and strong ethanol demand support feed grain prices, though the move is a short-term reaction to the report.
ukragroconsult.comNov 10, 2021Not enough comparable past events yet for a historical read.
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.
