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DTN's National Corn Index fell from $4.01 to $3.51 by Thursday August 15, a 12% drop following USDA's larger-than-expected 13.9 billion bushel corn estimate. Noncommercial traders liquidated net-long positions after the report.
Heavy fund liquidation after a bearish USDA surprise drove cash corn lower, reducing feed grain costs for livestock buyers. Price direction remains tied to uncertainty over the prevented-planting acreage and yield.
dtnpf.comTodd HultmanAug 16, 2019Not 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.
