Miller Magazine Issue: 129 September 2020

85 MARKET ANALYSIS MILLER / September 2020 Catch the bulls while they are here The market is dominated by bullish sentiment. The weather factor and uncertainty in yields, a strong euro and China's appetites are pushing stock quotes and the cash market up. Most of the factors mentioned are of a short-term nature and in the nearest future, the market will win them back. Both USDA and IGC didn’t include actual weather impact in the reports but market already working with much lower numbers. Elena Faige Neroba Business Development Manager Maxigrain CORN The US has not yet published data on losses due to the storm derecho, and the market estimates production expectations in Ukraine at 32-34MMT. The market is still waiting for more ac- curate data on the supply level and is in support. Bloomberg reported that, according to their estimates, China has practically exhausted the non-tariff quota on corn imports. Given Beijing's growing appetites for livestock growth and sto- ckpiling, it is possible that the quota will be increased. There