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Corn and soybean futures had surged over the prior two months after struggling earlier in 2020. The rally was attributed to smaller-than-expected supplies and strong domestic and export demand during harvest.
Tighter-than-expected supplies lift feed grain and meal costs for livestock buyers. The harvest-time rally runs against the usual seasonal decline, so feed budgets should reflect firmer prices.
iowafarmbureau.comDirck SteimelOct 26, 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.
Published on the move date, it attributes the rally to smaller-than-expected supplies and strong domestic and export demand, which supports continued upward momentum.
