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The European Commission raised the import duty on maize, sorghum and rye to €10.95 per tonne from 1 September, up from €5.16 set on 8 August. The automatic mechanism was triggered because the weaker dollar pushed Chicago maize prices lower.
Higher EU import duties make non-EU maize and sorghum more expensive for European feed buyers, reducing import demand and weighing on US and Black Sea export prices.
agenceurope.euAug 31, 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.
After 15 past bearish policy events, DXY moved a median -0.5% over 5 sessions (27% higher; middle half -0.7% to +0.0%), and -0.0% 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.
