Loading…
Chicago December corn fell 1.6% in the week to September 15 after USDA raised its U.S. 2023/24 production estimate. The report also flagged concern about low US river levels slowing grain shipments.
A larger U.S. crop estimate points to lower corn prices, while low river levels raise barge freight costs and may slow shipments.
stonex.comStoneX Intelligence BrazilSep 18, 2023After 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.
December corn fell after USDA raised its 2023/24 production estimate, adding supply pressure, though the weekly drop was modest relative to the full move.
