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Exporters with limited storage are selling more corn into an oversupplied market after strong recent US export figures. The FOB-CIF barge spread has narrowed to under 10 cents, increasing pressure to sell.
Narrowing elevation margins signal heavy export selling pressure, which weighs on corn export prices as the trade tests global demand.
farmingportal.co.zaOct 3, 2018After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
