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The International Grains Council projects 2021/22 total grains output at 2,287 million tonnes, 3% above the prior year, with closing stocks flat at 609Mt. Corn stocks are forecast to fall 7% to their lowest in nine years, while the corn price index rose 93% this year.
Falling corn carryout and high corn prices are pushing feeders to substitute wheat, which supports corn prices and shifts feed demand toward wheat.
graincentral.comGrain CentralMay 5, 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.
After 769 past bullish report events, WHEAT moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), 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.
