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Market analyst Mike Zuzolo says the US crop is short and vulnerable and the market has been focused on recession fears, global demand and Ukraine returning to export. He expects a price premium phase if dryness continues.
He also cites the European corn crop as a key market driver.
A short, vulnerable US crop and weak European corn output point to firmer corn prices and higher feed costs if dryness persists.
rrfn.comCarah HartJul 31, 2022After 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.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
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.
