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Analysts quoted expect US corn prices for 2017 to range from $3.20 to $4.00 per bushel, with forward rates for March to December 2017 at $3.50 to $3.80. Global corn stocks are estimated at 222 million tonnes, a 21.6% stocks-to-use ratio above the multi-year average.
Large South American harvests are expected in the first half of 2017.
Ample global stocks and a large expected South American harvest limit the upside for corn prices, while possible US acreage cuts in favour of soybeans provide some support. Buyers can plan around a broadly stable price range.
zmp.deDec 29, 2016Not 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.
