Loading…
The IGC reported its global maize price index fell 1% over the month, while US futures gained 3% on drought and unfavorable weather in Illinois and Iowa. Russia's withdrawal from the Black Sea Grain Initiative added support, while weak Gulf export demand pressured premiums.
The IGC's barley price index rose 6% month over month.
Drought-driven US corn concerns and Black Sea supply risk are lifting coarse grain prices, which raises feed ingredient costs for buyers. Competition from Brazil limits how far export premiums can rise.
world-grain.comChris LyddonJul 25, 2023After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
Not 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.
