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Corn futures gained slightly on fund buying as the new year began, with funds holding a substantial long position. Analysts pointed to bullish May-July corn spreads and expected Brazilian corn harvest flows, while wheat moved lower on the day.
Heavy fund length leaves corn vulnerable to liquidation if Brazilian harvest supplies arrive as expected, though the bullish deferred spreads support nearby feed corn prices.
barchart.comDarin NewsomJan 2, 2025Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
