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An analyst discusses whether a US-China trade compromise could rally corn, noting rumors of Chinese interest in US corn, ethanol and DDGS. He cites dry conditions in Brazil and wet conditions in Argentina, and says USDA's South American estimates still imply about 20 million tonnes more supply than last year.
Demand concerns persist over ethanol margins and export competition.
Possible Chinese purchases of US corn and DDGS would support prices, but the large South American crop estimates and weak ethanol demand limit the rally.
farmprogress.comKevin Van TrumpJan 7, 2019After 480 past neutral trade events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
