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Barchart analyst Darin Newsom said corn and wheat had a brief geopolitical rally that faded, and that US old-crop supplies may tighten before the next planting season. He noted the May-July corn spread at about 24-25% of full commercial carry, which he called bullish.
A wide carry and tight nearby supplies suggest firmer deferred corn prices, but the market's reaction to geopolitics has been short-lived.
Not 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.