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USDA projects a record US corn crop of nearly 435 million tonnes for 2020, up about 17% from last year's weather-hit crop. Planting is ahead of normal with good soil moisture, and some analysts see corn falling below $3 a bushel.
A large US corn crop and falling corn prices undercut the feed grain complex and could weigh on Australian barley prices more than the China tariffs.
farmonline.com.auGregor HeardMay 19, 2020After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
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.
