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Grain markets closed mostly lower in early April as profit-taking and farmer selling followed the prior week's highs. USDA's Prospective Plantings put 2020 US corn acres at about 97 million, and WTI and Brent rose sharply on expected OPEC+ production cuts.
The large expected corn acreage weighs on corn prices, while crude's rebound on production-cut expectations provides some support to biofuel-linked commodities.
realagriculture.comBrennan TurnerApr 3, 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.
Notes WTI and Brent rose sharply on expected OPEC+ cuts during the week.
