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A market analyst called the January 10 USDA report disappointing, noting corn yields were a bushel higher than expected and harvested acres were lowered. He expects corn to stay range-bound, while soybeans may get support from Phase One China purchases.
Corn and soybean futures closed about two cents higher.
Higher corn yields and a large global production figure cap feed grain rallies, while expected Chinese soybean demand offers some support.
brownfieldagnews.comMark DorenkampJan 10, 2020Not 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.
