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Favorable July weather supported the US corn crop, and USDA raised 2024-25 corn planted acres by 1.5 million while holding yield at 181 bushels per acre. Corn stocks on farms are near 3 billion bushels, the largest since the 1980s, and farmers are expected to sell stored corn ahead of harvest.
Large farm-stored supplies and expanded acreage point to ample corn availability and lower prices, with China's slowing demand and Brazilian competition limiting export outlets.
barchart.comDon DawsonJul 31, 2024After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
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.
