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Reuters reports that ethanol plant shutdowns are deepening losses for US corn farmers. An industry trade association points to reduced exports linked to the ongoing trade conflict with China as the main meaningful reduction.
Lower ethanol grind reduces corn demand and DDGS output, while weaker exports to China add pressure on corn prices.
reuters.comMark WeinraubDec 13, 2019After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
