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A Reuters column says the U.S. corn market faces a familiar storyline as focus shifts to the 2021-22 crop. December corn on the Chicago Board of Trade hit a contract high of $5.05-3/4 per bushel and was up 16% year to date.
The column notes supply uncertainty complicates valuation of deferred corn futures.
Higher deferred corn futures raise the cost of forward feed grain purchases for the 2021-22 season. Supply uncertainty keeps risk premium in the new-crop market.
reuters.comKaren BraunApr 14, 2021Not 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.
