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Country news highlights include low Argentine river levels raising exporter costs and drought pushing farmers into debt, while Brazilian freight rate increases add about $20/MT to grain costs. Brazil's safrinha corn harvest is accelerating, though JBS is importing Argentine corn.
EU corn futures in Paris hit a five-year high on crop concerns, and Germany's grain crop is its smallest in 24 years.
Higher freight costs and tight EU supply support corn and feed grain prices, while Brazilian and Argentine logistics constraints add to export cost pressure. Argentine corn imports by Brazil point to firm regional demand.
grains.orgAug 9, 2018grains.orgAug 9, 2018Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% over 20.
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.
