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USDA's April WASDE cut US corn ending stocks to 2.352 billion bushels from 2.477 billion in January after raising export projections by 125 million bushels. Global corn stocks fell as Argentina's production was cut by 3.0 mmt, and the season-average farm price was raised five cents to $3.30.
A tighter US and world corn balance sheet supports prices, and the higher farm price also resets the PLC payment to $0.40. Buyers should expect firmer corn feed costs.
cornsouth.comVicky BoydApr 30, 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.
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.
