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A Texas AgriLife economist says a spring corn price rally has lifted prices above recent years after USDA's updated supply and demand outlook showed lower carryover. U.S. 2018 corn acres are estimated at just over 88 million, down from 90.2 million in 2017, and current moisture and forecasts look positive for the Corn Belt.
Lower projected carryout and reduced U.S. corn acreage support corn prices, and strong feed and biofuel demand could keep prices firm, which raises feed costs for buyers.
farmprogress.comAdam RussellMay 22, 2018After 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.
Not enough comparable past events yet for a historical read.
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.
