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A University of Illinois farmdoc daily summary says corn and soybean prices rose more than 30% from mid-August lows, driven mainly by strong Chinese export demand. USDA cut its U.S. corn crop estimate by almost 800 million bushels between August and November, and soybeans by over 250 million bushels.
Strong export commitments combined with a smaller crop underpin current prices, and the outlook for the 2021 rally will depend on how long export demand holds.
farmdocdaily.illinois.eduHongxia JiaoDec 29, 2020Not 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.
