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Global grain markets were little changed on July 23, with Chicago December corn up about $1.87/t at $169.88/t and Chicago December wheat down. Chicago November soybeans fell $0.73 to $332.04/t.
The analyst notes that US corn area remains uncertain ahead of August acreage revisions, while Brazil's safrinha harvest is over 50% complete with strong yields and the MARS report puts EU maize yields above the five-year average.
Uncertain US planted area and strong South American and EU crops offset each other, which limits upside for corn futures until the August USDA revisions. Feed buyers should expect range-bound prices in the near term.
ahdb.org.ukJul 24, 2019Not enough comparable past events yet for a historical read.
Not 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.
