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CFR Northeast Asia corn hit a new high of $295.40/mt on Feb. 17, up $9.40/mt on the day after a South Korean feedmiller booked a cargo for June delivery.
Argentine origination basis fell about 10 cents over Feb. 4-16 as farmers sold ahead of an expected export tax increase.
Surging Panamax freight costs are lifting delivered Asian corn prices even as Argentine FOB basis softens, widening the landed-cost gap for feed buyers in Asia. Higher freight and tighter Panamax tonnage support corn and other bulk grain prices into Asia.
spglobal.comFeb 17, 2021After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% over 20.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
