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September corn settled at $6.04 1/4, down slightly, as rain forecasts across the eastern Corn Belt pressured prices. A USDA sale of 133K MT of corn to China was announced then retracted, and Canada cancelled corn purchases again.
Rain in the eastern Corn Belt eases crop stress and Canadian cancellations reduce export demand, both bearish for corn prices, while high European heat is a potential offsetting risk.
theseam.comJul 15, 2022After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
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.
