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The CEPM corn market report says Chicago May corn prices were relatively stable from April 3 to 13, supported by strong exports and OPEC+ cuts. USDA's April report was bearish, with US 2019/20 carryout up 5.1 Mt as ethanol use fell 9.5 Mt, while Argentina's Paraná River low level is disrupting exports.
Higher US carryout and disrupted Argentine exports offset each other, leaving corn prices range-bound. Low Paraná River levels could tighten logistics for South American corn flows.
maizeurop.comCEPMApr 16, 2020After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
