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Old crop corn rallied to a six-week high in late April, then fell to a one-month low by Friday, with December new crop closing at its lowest since July 2022. Wheat and soybeans also weakened as the market priced in an expected El Niño and weak US export competitiveness versus Brazil.
Hand-to-mouth buying by end users and competitive Brazilian supplies keep prices under pressure, though weather risk could reverse the trend if Northern Hemisphere crops disappoint.
agriculture.comBryan DohertyApr 28, 2023Not enough comparable past events yet for a historical read.
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.
