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A Western Producer article says corn's stocks-to-use ratio is projected to rise to about 29% for 2020-21, driven by faltering ethanol demand with plants running at 50 to 60% of capacity. An economist expects corn prices to fall sharply in the coming crop year.
A bloated projected stocks-to-use ratio signals sustained bearish pressure on corn prices, and weaker ethanol co-product output (DDGS) also weighs on feed supply economics.
producer.comadminApr 30, 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.
