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US corn futures have hit multi-year highs on strong Chinese buying and expectations of a large export slate. Analysts cite drought in western and northern Plains states and a smaller-than-expected planted area as added risks to the record yield the USDA is modeling for 2021/22.
Drought-linked yield risk and a possible planting shortfall tighten the corn balance sheet, supporting feed corn prices and raising costs for feed buyers.
fastmarkets.comTimothy WorledgeApr 12, 2021After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.
