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The U.S. Grains Council's January 9 market perspectives report notes Argentine corn plantings advancing after rains eased moisture concerns. Brazil's Rio Grande do Sul corn crop is estimated down about 20% on moisture stress, and China has dropped its 10% ethanol blend requirement due to reduced corn output.
Brazil's Rio Grande do Sul shortfall tightens South American corn supply and supports prices, while China's removal of the ethanol mandate trims domestic corn-based ethanol demand.
grains.orgJan 9, 2020After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.
