Loading…
An extension grain marketing economist expects corn and soybean markets to trade sideways until the USDA's August 12 report. Mild July weather weakened a corn weather rally that had pushed futures above $4.
The trade is awaiting USDA's resurvey of planted acres, which could move prices sharply in either direction.
The acreage resurvey is the next major catalyst, and the outcome is uncertain, so buyers face two-way risk. Soybeans face headwinds from large supplies and weak Chinese demand, which favors a bearish soy outlook.
brownfieldagnews.comMark DorenkampJul 29, 2019Not 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.
