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The December WASDE cut global 2024/25 maize ending stocks by 7.7 million tonnes to 296.4 million tonnes, mainly on higher US exports and US ethanol use. Chicago wheat fell 0.6% over the week while Chicago maize rose 0.9%.
A large Brazilian maize crop forecast partly offsets the tighter US picture.
Lower global maize stocks from stronger US demand support corn prices, which feed buyers rely on for rations. Brazil's larger crop limits the rally.
ahdb.org.ukDec 16, 2024After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
