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AgRural says Brazil's safrinha corn crop is yielding above expectations, lifting its 2016/17 total corn estimate to 94.4 MMT, up about 42 percent year on year. China is offering 7 MMT of 2013-harvest corn at government auction, with earlier sales made at a steep discount to Dalian futures.
Larger Brazilian corn supply adds export competition and pressures global corn prices, while heavy Chinese state auction supply keeps Dalian corn under pressure.
grains.orgMay 25, 2017After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
