Loading…
The Federal Reserve's April 2020 Beige Book reported that COVID-19 drove significant price increases for corn, rice, soybeans, milk and eggs in some districts. In the Chicago district, falling ethanol prices led plants to cut production and corn use, pushing corn prices lower.
Reduced ethanol output cuts corn demand for grind and weighs on corn prices, while the broader report signals mixed farm-income conditions.
proag.comFarm Policy @FarmPolicyApr 17, 2020After 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.
