# Market Perspectives June 2, 2016 - U.S. Grains & BioProducts Council

> The U.S. Grains Council market outlook from early June 2016 reported that funds were long roughly 70,000 corn contracts and that momentum was bullish. Argentina's failure to deliver its crop to port boosted U.S. exports, and U.S. weather was suboptimal with below-normal precipitation expected in the Midwest. Brazilian cash prices were also rising on short supply.

- Date: 2016-06-02 · published 2016-06-02T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/5263-market-perspectives-june-2-2016-u-s-grains-and-bioproducts-council
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Argentine logistics failures and Brazilian shortages support export demand for U.S. corn, while dry Midwest forecasts add weather premium to prices.

## Read by commodity

- CORN: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2016-06-06 | 1 | +4.2% | 7.0 | Fund length of about 70k contracts with bullish momentum, Argentine delivery problems boosting US exports, and a dry Midwest outlook created supply and positioning conditions favoring a sharp rally. |

## Sources

- grains.org: https://grains.org/market_perspectives/market-perspectives-june-2-2016/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.