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USDA's June WASDE cut its projection for US corn ending stocks for 2023/24 to 2.122 billion bushels from 2.172 billion, as ethanol use rose to 5.4 billion bushels and feed use to 5.7 billion. The cut was smaller than the 2.102 billion analysts expected.
Corn prices still traded lower after the report because global supplies were seen as plentiful.
Higher domestic use reduces old-crop stocks, which modestly supports corn prices, but ample global supply limits the upside. Feed buyers face a tighter US old-crop balance without a major supply shock.
energynews.oedigital.comEnergy News18 Jun 2024Setelah 1.040 peristiwa laporan bullish sebelumnya, Jagung bergerak median +0,5% selama 5 sesi (62% lebih tinggi; separuh tengah -0,9% sampai +2,0%), dan +0,8% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.
