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Corn futures on Euronext fell further, with the most-traded March contract down 1.75 euros to 209.50 euros per tonne. Good rainfall and growing conditions in South America point to a strong harvest, and USDA data showed US export shipments up 37.54% year on year.
Expectations of a large South American crop add supply and pressure European and global corn prices. Solid US export pace provides some support but is not enough to offset the outlook.
zmp.deNov 26, 2024After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% 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.
