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December corn futures fell 22.5 cents (3.6%) in the week to July 14 after profit taking and long liquidation followed a neutral July WASDE. USDA's 2022/23 US corn ending stocks rose to 1.47 billion bushels with a 10.1% stocks-to-use ratio.
Ample ending stocks and a neutral report leave corn prices vulnerable to weather-driven moves, with the market now focused on heat and dryness forecasts for the Corn Belt.
grains.orgJul 14, 2022Not 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.
Dec corn fell 22.5 cents in the week as profit taking and long liquidation followed a WASDE with higher ending stocks.
December corn fell 3.6% over the week on profit-taking and long liquidation after the WASDE, indicating fund selling pressure.
