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September corn futures traded sideways after a WASDE report showed corn ending stocks of 2.08 billion bushels, below trade expectations. Forecasts for a Midwest heat wave were easing, and 76% of the corn crop was rated good to excellent with 32% silking.
Lower-than-expected stocks support prices, but a fading heat forecast and good crop ratings weigh on the rally and keep corn and soybean feed costs under pressure.
news.utcrops.comDanny Morris, Ext Area SpecialistJul 14, 2016After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% 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.
