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Chicago corn has fallen to a three-year low, trading below $4.50 a bushel after US and Brazilian supplies surged while demand stayed sluggish. Hedge funds have been raising bets on further price declines, and farmers who expected high prices face pressure.
Ample supply and weak feed and ethanol demand point to lower corn prices, which cuts feed costs for livestock and dairy producers.
ft.comSusannah SavageDec 1, 2023Not 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.
