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Ukraine's 2020/21 grain crop was cut by at least 16 million mt by hot, dry weather, especially for corn. The export surplus falls by about 14 million mt, while terminal capacity has grown to at least 78 million mt.
Slow origination has pushed domestic prices to parity with FOB levels.
A smaller exportable surplus supports higher Black Sea corn prices, though terminal competition could lower handling costs and ease some of the premium.
fastmarkets.comMasha BelikovaDec 8, 2020After 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.
