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Grain futures recovered overnight after Tuesday's sharp selloff, as short covering and bargain hunting lifted prices. Production estimates ahead of USDA's August report, along with crop ratings and vegetation models, point to corn yields below USDA's trend forecast.
Expectations of lower corn yields than USDA's trend figure support corn prices into the August report. A lack of weather threats in the near-term forecast keeps the rebound limited.
farmprogress.comAug 2, 2017After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.
