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The U.S. Grains Council projects U.S. corn, barley and sorghum exports will break the all-time record in the 2020/21 marketing year. Sorghum exports had reached 3.4 million metric tons, up 141% on 2020, mostly to China, and corn exports were running above 24 million metric tons.
Strong Chinese purchases and a weaker dollar are lifting export demand for U.S. feed grains and tightening available supply. This supports prices for corn and sorghum into the new crop year.
allagnews.comTony St. JamesMay 3, 2021After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
Not enough comparable past events yet for a historical read.
After 39 past bearish trade events, US Dollar (Broad) moved a median -0.4% over 5 sessions (26% higher; middle half -1.1% to +0.0%), 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.
