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DTN analysis says December 2024 corn hit a three-year low of $4.46 in February before recovering. US corn exports are up 34% year on year, and USDA's March 1 stocks showed 8.347 billion bushels.
Conab's lower Brazil corn estimate of 111.0 MMT is viewed as more credible than USDA's 124.0 MMT.
Strong US export demand and a smaller Brazilian crop estimate support corn prices, though large US ending stocks cap the rally.
dtnpf.comTodd HultmanJun 10, 2024After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
