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Chicago corn fell on lower ethanol demand expectations, with ethanol margins below production cost and plant closures expected. Brazilian corn rallied for a sixth straight week on local demand, and the USDA is projecting 94 million planted acres.
Collapsing ethanol margins reduce domestic corn use, while cheap diesel lowers farmer breakeven and supports planting. Brazilian strength reflects separate local demand.
czapp.comJames BrittainMar 2, 2020Not enough comparable past events yet for a historical read.
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.
