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Corn basis widened 5 to 10 cents in the Northern Plains as ethanol plants take only scheduled deliveries. China bought U.S. corn, which is unusual for that market.
Wider basis lowers local cash bids for farmers, while Chinese purchases could narrow basis if they continue. The buying is a modest support for U.S. corn exports.
rrfn.comCarah HartMar 25, 2020After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% 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.
