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Chicago soybean futures edged higher on June 30 ahead of the USDA acreage and stocks report, while corn eased. Dry U.S. weather forecasts and slim grain stocks were underpinning prices, and Russian wheat output expectations pressured wheat.
Dry weather and tight stocks support feed grain and soybean prices, while expected higher Russian wheat output weighs on wheat values for feed buyers.
brecorder.comReutersJun 30, 2021Not 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.
Pre-report positioning, with dry forecasts and slim stocks supporting prices, set up the acreage-driven jump.
Soybeans firmed on June 30 ahead of the report on dry forecasts and slim stocks, a supportive setup for the move.
