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University of Minnesota economist Ed Usset says that weather is the main price driver this time of year, with trade a significant but secondary factor, estimating a 60/40 split. U.S. crop condition ratings are at their highest in more than 20 years while trade tensions with China and Mexico are peaking.
He sees a late June or early July rally as unlikely.
Strong crop ratings and trade-related weakness point to lower corn and soybean prices, and the lack of a likely rally means feed buyers can expect softer spot values.
brownfieldagnews.comMark Dorenkamp15 jun 2018Tras 357 eventos bajista de clima pasados, Maíz se movió una mediana de -0,3 % en 5 sesiones (44% al alza; mitad central entre -2,2 % y +1,3 %), y -0,5 % en 20.
Tras 363 eventos bajista de clima pasados, Soja se movió una mediana de -0,6 % en 5 sesiones (42% al alza; mitad central entre -2,5 % y +1,1 %), y -0,2 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
Economist attributes bearish grain pricing to top crop ratings (weather ~60%) and peaking trade tensions with China (~40%), covering both supply and demand drivers.
