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A World Grain review describes how a sharp upward revision to USDA's August 2019-20 US maize forecast pushed prices lower. It also notes bearish pressure from the South American harvest and Ukraine's outlook, and expected Argentine and Brazilian maize acreage increases.
A larger US crop and expected South American acreage gains point to ample global maize supply, which weighs on export prices. Market direction depends on the next USDA report.
world-grain.comChris LyddonSep 16, 2019Not 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.
