Export drives grain prices - corn leads the way

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Today, data on weekly exports of grains in the United States have been published. Cumulative corn exports in the 20/21 season amounted to 39.392 million tonnes, which is 4.2% more than the publication from last week, 82.5% more than a year ago (y / y) and 39.4% more than the 5-year average . The data for soybean and wheat exports are just as good. Moreover, there are signs of possible dry weather in the US during the growing season, which could lower potential production.

Corn prices bounced off the session low at 605 cents a bushel and are currently testing 620 cents a bushel heading for the 61.8 Fibonacci retracement. Corn is currently gaining more than 2%. Soybeans in second place, wheat in third place. Source: xStation5

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Export drives grain prices - corn leads the way

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