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Corn, soybeans, wheat, and soymeal closed lower on July 13, 2020, as weekend rains and forecasts for more removed weather risk premium. Corn and soybean crop ratings improved to 69% and 68% good/excellent, and feeder cattle futures made strong gains.
Improving crop conditions and rain forecasts reduce supply risk, pressuring grain and meal prices. Firmer feeder cattle prices reflect separate cattle market demand.
Not 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.
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.
Soymeal closed lower on July 13 as weekend rains and forecasts removed weather risk premium, consistent with the downside move, though the date falls just after the window.
