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Chicago December corn futures settled below $4 per bushel and hit a contract low on July 31, 2024, as favorable U.S. crop prospects weighed and farmers sold old-crop stocks. Soybeans rose on higher crude oil amid Middle East tensions, and wheat stabilized on poor French harvest prospects.
Benign weather and heavy farmer selling point to continued pressure on corn and soybean prices, which lowers feed grain costs for buyers. Crude-driven soy strength and French wheat support give limited offsets.
farmtario.comHeather Schlitz, ReutersJul 31, 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.
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.
