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The USDA-linked Market Perspectives digest reports Australia's barley crop raised to a record 13 MMT and China's Jilin province seeking larger subsidies as domestic corn trades below US landed cost. It also notes Russia's record 15.3 MMT corn crop and USDA raising South American corn estimates.
Record crops in Australia, Russia and South America and Chinese corn priced below imports point to ample global feed grain supplies, which pressure corn, barley and sorghum prices.
grains.orgMar 9, 2017grains.orgMar 9, 2017grains.orgMar 9, 2017Not enough comparable past events yet for a historical read.
After 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.
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.
