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Corn futures closed 3.5 to 5.25 cents higher, with the May contract up as much as 9 cents intraday. USDA flashed a 110,000 MT corn sale to Taiwan, and China reportedly locked in 20 cargoes of grain imports.
Corn export shipments accumulated to 20.6 MMT, well ahead of last year.
Robust export sales and Chinese purchases support nearby corn prices, while the strong shipment pace tightens old-crop supply for feed buyers.
ibestmedia.comMar 5, 2024After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% 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.
