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Commentary says corn faces a difficult outlook with 3.3 billion bushels of ending stocks, the largest since 1987, and COVID-related demand destruction. Soybeans gained optimism from active Chinese purchases and shrinking global stockpiles.
Crude oil appears to have bottomed.
Record corn stocks keep feed-grain prices under pressure, while Chinese buying and tightening soybean stocks support soybean prices. Energy stabilization may help ethanol demand.
agwatch.bizDewey StricklerMay 14, 2020Not 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.
