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Chicago corn futures rose on Wednesday to near their highest since June 25, after USDA projected US end-of-season corn stocks at a two-year low. The most-active CBOT corn contract traded around $4.49 per bushel, while soybeans were flat near $9.95 and wheat rose 0.5%.
Commodity funds were net buyers of corn following the report.
The lower US stocks outlook and record-pace export demand support corn prices, and fund buying adds momentum. Soybeans stayed flat as South American supply expectations offset a higher USDA soyoil export estimate.
brecorder.comReutersDec 11, 2024Not enough comparable past events yet for a historical read.
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.
