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December corn futures closed at $3.99 3/4 on July 31, 2024, the lowest close since November 2020 and below most farmers' breakeven levels. Ethanol output hit a record and export sales are up 37% year over year.
Corn is priced well below production costs while demand from ethanol and exports remains firm, which supports cheap feed grain for buyers but risks reduced planting or farmer holding in the future.
dtnpf.comKatie Micik DehlingerJul 31, 2024Not 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.
