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Corn futures fell as forecasts pointed to beneficial rain across much of the Corn Belt and normal temperatures during pollination. The outlook was less threatening than the previous week's hot, dry forecasts.
Improved moisture forecasts during pollination reduce the risk of yield losses, which weighs on corn prices. Lower corn prices also ease feed input costs for livestock producers.
farmequip.orgJun 23, 2016After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
