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July corn futures fell 26 cents per bushel in the week to June 27, a 5.9% decline, and are down 29.4% from the July 2023 peak. Cash corn basis bids in Illinois, Iowa and Northwest Iowa rose to 16 to 28 cents over July futures as Cornbelt rains removed weather premium.
Futures are sliding on good crop weather while firm cash basis supports local supplies to feed mills and ethanol plants, so feed buyers face a narrower futures-to-cash gap.
grains.orgJun 27, 2024Not 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.
