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U.S. ethanol exports eased in July 2017 as stronger domestic prices kept more fuel at home, especially versus Brazil and India, which had been major earlier-year destinations. Corn futures are supporting ethanol prices amid concern about dryness that could cut fall production.
Easing exports reduce ethanol demand pull on corn and ethanol plant output, while dryness concerns add upside risk to corn. Buyers should watch whether firmer domestic ethanol prices persist.
biofuelsdigest.comMeghan SappJul 19, 2017After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% 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.
