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Farmers in the US are harvesting what is likely the country's third-largest corn crop ever after a dry spring threatened the crop. The bumper harvest will strain storage capacity and push down prices for the world's most traded feed grain.
A large US crop adds to global supply and lowers corn feed costs for livestock and ethanol buyers, while squeezing farmer margins and pushing grain into storage.
reuters.comMark WeinraubOct 19, 2023After 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.
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.
