Corn trades at $674.5 after United States Crude Oil Inventories falls short of expectations

Published: January 25 2023, 19:26 GMT+0

Corn trades at $674.5 after United States Crude Oil Inventories falls short of expectations

CME Corn today at a glance: without a clear-cut direction, Corn is trading around $674.5 per bushel and ranging between $673.75 and $681. United States's Crude Oil Inventories new data released of 533,000 below its previous figure.

Soybeans gained 0.96% and is now trading at $1,502.75. Rough Rice is down to $18.16, losing 6.5 cents, after closing at $18.23 in the preceding trading session. Having closed the previous session at $375, Oats is up 0.87% today to currently trade at around $378.25.

Following a previous reading of 8.41 million, Crude Oil Inventories in United States released today at 15:30 UTC fell short of the 971,000 figure expected by analysts with an actual reading of 533,000. 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 released today at 15:30 UTC with a figure of 4.27 million, while the previous figure was 3.65 million.

United States Core Durable Goods Orders projected to decline to -0.2% while previous data was 0.1%; data will be released tomorrow at 13:30 UTC. Projections for United States GDP are set for a continuation of decline with 2.6 while previous data was 3.2; data will be released tomorrow at 13:30 UTC.

Trading mostly sideways for a month. Corn is now trading 20.36% above the significant low ($562.5) it slumped to 6 months ago.

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