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Bloomberg reports Brazil and the US are set to compete hard for buyers in the second half of 2017 after record Brazilian corn and large US supplies. December CBOT corn fell 1.8% in July to $3.85/bu, and funds that added bullish bets were squeezed.
Japan and Mexico are expected to be the largest importers, per USDA.
Competing record exports from Brazil and the US give buyers leverage and pressure corn prices lower as exporters push shipments out.
sowoptions.co.zaMore stories by Tatiana FreitasJul 30, 2017After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% 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.
