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Farm Futures analyst Bryce Knorr says the February WASDE did little to help corn and soybean rallies, with more old-crop carryout expected by August 2024. Futures remain near their lowest levels since 2020, and the article suggests a shift to La Niña this summer could be the best hope for rallies.
Higher-than-expected carryout keeps corn and soybean prices under pressure near multi-year lows. A La Niña weather shift is the main possible catalyst for a rebound later in 2024.
farmprogress.comBryce KnorrFeb 12, 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.
