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Farm Futures' market commentary says markets are entering a holiday holding pattern following the December 9 USDA report, which made few significant changes to corn and soybean balance sheets. Dry weather in southern Brazil and parts of Argentina bears watching, but South American production potential still looks adequate.
Purchases by China and Mexico were not enough to move futures.
Limited price catalysts and historically muted seasonal moves suggest little near-term direction for corn and soybeans, though South American dryness is a risk to monitor.
farmprogress.comBryce KnorrDec 14, 2021Not 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.
