# Market Perspectives - June 27, 2024 - U.S. Grains & BioProducts Council

> 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.

- Date: 2024-06-27 · published 2024-06-27T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/29866-market-perspectives-june-27-2024-u-s-grains-and-bioproducts-council
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

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.

## Read by commodity

- CORN: bearish ▼

## Sources

- grains.org: https://grains.org/market_perspectives/market-perspectives-june-27-2024/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.