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USDA's 2019/20 corn export estimate is 1.775 billion bushels. Census data showed April exports of 199.5 million bushels, and inspections averaged 44.5 million bushels weekly over the eight weeks to June 4.
Unshipped sales of 451 million bushels as of May 28 are slightly below the 559 million needed to meet the USDA projection.
Export pace near USDA's target supports old-crop corn demand, but unshipped sales fall short of the remaining requirement, leaving the outlook dependent on continued sales.
origin.farmdocdaily.illinois.eduHongxia JiaoJun 8, 2020After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% 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.
