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Central Illinois corn cash prices climbed to the mid-$3.80 range, with some locations offering above $4 for fall delivery, while December futures struggled to break $4. USDA's consumption forecast is 14.015 billion bushels, down 459 million from the prior year, and ethanol corn use is projected to rise only 24 million bushels.
Weak demand caps prices, but a smaller crop could support a post-harvest rally if supply tightness outweighs demand softness. Feed and residual use projections at 5.3 billion bushels could be revised if livestock inventories or the crop size change.
proag.comOct 22, 2019Not 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.
