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Traders expected modest gains in wheat and corn and a slightly weaker soybean complex ahead of USDA acreage and stocks reports. Statistics Canada put Canadian wheat plantings at 25.0 million acres, below the 25.2 million estimate.
Corn rebounded from its lowest level since May 12.
Pre-report positioning shows limited directional conviction, but the Canadian wheat planting shortfall is a modest supply-side factor. Feed buyers should expect little price change ahead of the USDA data.
brecorder.comReutersJun 29, 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.
