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Bloomberg's Grains Subindex fell 17% in 2024 to its lowest since December 2020, while speculators built record-size net short positions in Chicago corn and soybeans. Tropical Storm Beryl was expected to bring Midwest rains that could aid crop development.
Heavy fund short positioning and favorable weather expectations point to continued downward price pressure on corn and soybeans, though a short-covering rally remains possible.
agriculture.comFarmdocJul 10, 2024
agrimarketing.comJul 11, 2024Not 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.
