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CEPEA's Lucilio Alves said Brazilian corn exports and domestic demand should remain firm this season despite the coronavirus pandemic and the large US surplus. Conab projects 34.5 million tonnes of exports for the 2020 marketing year, down from a record 41.17 million, and record domestic demand of 70.5 million tonnes.
Steady Brazilian export and domestic demand limits downside pressure on corn prices, though projected exports are well below last season's record.
spglobal.comMugunthan KesavanMay 11, 2020After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% 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.
