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Black Sea corn production is rising, with Ukraine and Russia producing about 43.5 million tonnes in 2020/21. Combined Ukrainian and Russian corn exports reached 33 million tonnes in 2019/20, up over 43% from 2017/18.
The EU's corn imports fell 23.5% year on year, with Ukraine supplying about 56% of them.
Growing Black Sea export capacity increases competition for corn sales into Europe and Asia. This pressures prices in importing markets and offers feed buyers more supply options.
cmegroup.comApr 8, 2021After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
