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The European Commission lowered the import duty on maize, sorghum and rye to €5.61 per tonne effective October 10, driven by a stronger US dollar. The duty is set by an automatic mechanism comparing EU reference prices with US maize prices.
It follows earlier adjustments in August and September.
Lower EU import duties make US and other imported maize and sorghum cheaper for European buyers, supporting import demand and export prices for these grains.
world-grain.comHolly Demaree-SaddlerOct 10, 2017After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
Not enough comparable past events yet for a historical read.
After 15 past bullish policy events, US Dollar (Broad) moved a median +0.2% over 5 sessions (53% higher; middle half -0.4% to +0.4%), and +1.0% 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.
