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December corn futures settled below $5 a bushel on May 17, 2023, dipping to $4.94 before recovering to $4.99, the first time since 2021 the contract traded that low. November soybeans fell below $12, approaching their lowest since February 2021.
Prices are reacting to forecasts for large U.S. and Brazilian crops.
Expectations of abundant supplies from the U.S. and Brazil weigh on feed grain prices, lowering feed input costs for buyers while signaling weaker prices for producers.
dtnpf.comChris ClaytonMay 17, 2023Not 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.
December corn fell below $5 for the first time since 2021 on large US and Brazilian crop forecasts, confirming the price slide.
December corn fell below $5 on May 17 for the first time since 2021 on large US and Brazilian crop forecasts, which is a large part of the price move.
November soybeans broke below $12 on large US and Brazil crop forecasts, showing the price decline in the window.
