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US corn good-to-excellent ratings rose 1% to 58% for the week ending July 28, 2019, slightly above trade expectations of 57%. Iowa, Illinois and Indiana improved while Minnesota and Nebraska slipped.
The analyst sees little meaning in the small changes ahead of the August WASDE report.
Stable crop ratings reduce the near-term weather premium. Attention moves to the August WASDE, which could move prices if it surprises the market.
seeitmarket.comMarcus LudtkeAug 4, 2019After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
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.
