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The European Union doubled its import duty on maize, sorghum and rye to €10.95 per tonne, up from €5.16, effective from September 1. The change follows the automatic mechanism tied to the weaker U.S. dollar and lower U.S. corn prices.
A higher EU import duty makes U.S. corn and sorghum less competitive in Europe, which reduces export demand and pressures prices.
world-grain.comSusan ReidySep 1, 2017After 310 past bearish policy events, CORN moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% 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.
