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The January WASDE trimmed South American 2021/22 production in line with trade estimates on drought, while raising U.S. and Ukrainian forecasts. Chicago corn futures fell after the report, then recovered on concerns about the size of the South American cuts.
Bolsa de Cereales also trimmed Argentina's crop estimate.
Lower South American supply supports barley and feed grain prices, though higher U.S. and Ukrainian output limits gains. Tight opening stocks keep barley prices historically high.
ahdb.org.ukJan 17, 2022Not enough comparable past events yet for a historical read.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
