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CBOT main-season corn closed at 385.25 cents per bushel on August 12, down 25 cents after USDA raised stocks and yield estimates. USDA also cut ethanol corn use by 25 million bushels and lowered exports amid competition from Argentina, Brazil and Ukraine.
Higher US stocks and reduced export demand point to ample corn supply, weighing on feed corn prices. Record Ukrainian and higher EU corn output add to competitive pressure on US exports.
agriland.ieSiobhán WalshAug 14, 2019After 1,102 past bearish report events, CORN moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
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.
