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Grain buyers say they cannot find the 2 billion bushels of corn the USDA reported left at the end of the marketing year. Processors are struggling to source corn for feed and ethanol while basis levels rise.
Doubts about USDA stock estimates and strong basis bids for scarce corn support local feed costs, even though futures may eventually reflect the crop size.
farmanddairy.comMarlin ClarkNov 21, 2019After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
