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Corn and soybean futures have risen substantially since early August, with the 2020 harvest corn contract up about $1 per bushel and soybeans roughly double that. Dec 2021 corn is a little above $4 and Nov 2021 soybeans near $10.
The author sees both crops trading at a premium to fundamentals based on stock-to-use ratios.
Higher deferred grain prices raise feed costs for cattle and livestock feeders into next year, and the stock-to-use view suggests room for prices to ease toward mid-to-high $3 corn and mid-to-high $9 soybeans.
u.osu.eduSmith atNov 18, 2020Not enough comparable past events yet for a historical read.
Not 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.
