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DTN reported corn crop ratings are bucking the usual summer decline, with the 2024 rating of 744 above the 1986-2023 average and five-year average of 726. Corn futures hit new contract lows on expectations that USDA's upcoming report will keep or raise the record 181 bpa yield projection.
Strong crop ratings and a record yield outlook keep ample corn supply expected, which pressures feed corn prices lower.
dtnpf.comJoel KarlinJul 31, 2024Not 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.
