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Front-month July corn rose 8.9% last week to close at 604 cents per bushel, recovering losses from the prior two weeks. US export shipments improved week over week but remained below last year, and weather models pointed to drier US Midwest conditions and low rainfall in Brazil.
Drier weather forecasts for the US Midwest and Brazil support corn prices, though weak export pace and Brazilian supply limit the rally.
stonex.comStoneX Intelligence BrazilMay 29, 2023After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
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.
