
Chicago corn rose to 4.49 dollars per bushel on November 10 before closing at 4.42 dollars on November 12, slightly above the prior week. The USDA report cut US corn production by almost 4 million tonnes to 403.7 million and US ending stocks to 44.7 million, while world output fell 2.2 million tonnes.
Brazilian corn prices were stable to weaker in major regions.
Lower US production and ending stocks support corn prices and tighten export supply, while weak Brazilian domestic prices limit the rally for local feed buyers.
After 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.
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.