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Chicago corn was little changed after a steep rally on Thursday, as the USDA confirmed over 5.6 million tonnes of new-crop corn sales to China. The USDA did not show large-scale cancellations of old-crop purchases, and the IGC raised its 2021/22 global corn output forecast while still expecting a deficit.
Confirmed Chinese buying supports export demand and keeps global supplies tight, though favourable US crop conditions are limiting further gains.
brecorder.comReutersMay 28, 2021After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), and +0.5% over 20.
After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% 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.
