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Corn price held steady after the April WASDE projected a 200 million bushel increase in 2018-19 ending stocks to 2.035 billion bushels. Export sales are running well behind last year, and the USDA cut its export projection to 2.3 billion bushels.
Rising ending stocks and slowing export pace point to weaker corn demand, keeping pressure on corn prices and reducing the attraction of corn as a feed ingredient relative to cheaper alternatives.
morningagclips.comKyleApr 16, 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.
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.
