CME Corn trades at $674 after United States Crude Oil Inventories falls short of expectations

Published: January 25 2023, 19:40 GMT+0

CME Corn trades at $674 after United States Crude Oil Inventories falls short of expectations

CME Corn today at a glance: trading lower, Corn is currently down $3 as it ranges between $673.75 and $681 so far today. United States's Crude Oil Inventories new data released of 533,000 below its previous figure.

Soybeans added 1% to its value, now trading at $1,503.5. Rough Rice is down to $18.16, losing 7 cents, after closing at $18.23 in the preceding trading session.

Crude Oil Inventories in United States fell short of market expectations (971,000) with a reading of 533,000, continuing the decline from the previous figure of 8.41 million. United States 5-Year Note Auction released today at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973. United States Cushing Crude Oil Inventories came out at 4.27 million.

Tomorrow at 13:30 UTC data for United States Core Durable Goods Orders will be released, with an expected decline to -0.2% from the preceding figure of 0.1%. United States GDP expected to decline to 2.6 while its preceding data was 3.2, data will be available tomorrow at 13:30 UTC.

Trading mostly sideways for a month. The Corn future hit a significant low of $562.5 around 6 months ago, but has since recovered 20.36%.

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