Research

Escaping the Maize: U.S. Corn Exports Cut Stocks, Lift Prices

9 August 2018 15:54 RaboResearch

Feed Festival Helps the U.S. Dig out of Record Surplus. CBOT Corn futures – long plagued by burdensome stocks, slow sales, and bearish fund sentiment – are looking...

Rabobank

    Record summer exports have led the USDA to steadily increase U.S. corn export projections for the 2017/18 and 2018/19 crop years by a combined 300m bu since April, with scope for further increases ahead. A deluge of non-commercial short-selling (-280,000 lots since May 22) has failed to stem a march higher, which last week triggered widespread short coverage. We can expect further tailwinds for CBOT Corn, amid a confluence of bullish demand factors and despite optimal U.S. growing conditions.

This is an exclusive article

Log in or sign up to request access