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USDA projected the tightest corn stocks-to-use ratio in seven years in its latest report, with the ending stock forecast down 38% since September. China's 2020-21 U.S. corn bookings reached a substantial share of the total as carryout forecasts fell.
A sharply reduced U.S. corn carryout forecast tightens supplies and supports corn prices, with Chinese bookings adding to demand pressure.
reuters.comKaren BraunJan 21, 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.
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.
