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Grain markets had a volatile few weeks, with December corn rising to 449 cents then falling to a contract low of 346. The July WASDE report came in less bearish than expected, with 2016/17 corn ending stocks at 2.081 billion bushels versus a trade estimate of 2.205 billion.
A USDA balance sheet that was less bearish than feared supports corn prices, but weather forecasts continue to drive direction.
agweek.comBrian Grossman, Zaner Ag HedgeJul 14, 2016After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
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.
