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A USDA report showed few farmers switched intended corn acres to soybeans. Crop conditions are rated among the best ever this far into the season, with about half the Corn Belt rated good or great.
Soybean acreage came in slightly below the market's goal, but higher old-crop stocks offset the shortfall.
Strong crop ratings and ample carryout point to limited upside for corn prices unless yields fall in the next weeks of pollination. Soybean gains are constrained by offsetting stocks and dependent on export demand.
ocj.comBrianna SmithJul 8, 2016Not 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.
