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USDA's June WASDE raised U.S. corn exports by 75 million bushels and ethanol use by 75 million bushels, tightening the U.S. corn balance sheet by 150 million bushels. USDA also cut its Brazil corn crop estimate to 98.5 million metric tons from 102 million.
Tighter U.S. and Brazilian supplies with strong Chinese demand support corn prices, while Midwest crop concerns add upside risk.
agweb.comJun 24, 2021After 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.
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.
