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The Commodity Europe Corn Market report says Chicago September corn fell $7/t between July 3 and 15 as rain returned to the Corn Belt. USDA's July WASDE cut US 2020/21 corn production 25 Mt to 381 Mt and projected carryout down 17 Mt to 67 Mt, while reported Chinese purchases totaled about 2.5 Mt for 2020/21.
Lower US carryout is supportive for feed corn, but improving rainfall and weather concerns about Hong Kong-related sanctions weighed on prices, leaving the net direction mixed.
maizeurop.comCEPMJul 16, 2020After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% 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.
