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Farm Futures analyst Bryce Knorr notes unusually strong demand for 2020 crops and says supply will drive the narrative once 2021 planting intentions are released March 31. Historical data since 1974 show spring lows were followed by rallies above 5% in most years for December corn and November soybeans, with the ENSO outlook a key factor.
Historical odds favoring summer rallies and dry western conditions support new-crop corn and soybean prices, though the outcome depends on the evolving La Niña to El Niño transition.
farmprogress.comBryce KnorrMar 23, 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.
