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Corn futures rose about 1.4% on July 31, extending gains to a tenth session in 13, after USDA held good-to-excellent corn ratings at 72% for the week ending July 29, with Illinois cut to 80% and Missouri to 33%. Corn export inspections for the new marketing year reached 51.5 million tonnes versus 54.5 million a year earlier.
Steady-to-lower crop ratings amid heat and dryness support corn prices, while slower export inspections are a modest bearish offset. Feed buyers face firmer corn costs if the Midwest dryness persists.
economies.comRami HaddadJul 31, 2018Not 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.
Corn futures extended gains on July 31 after USDA held crop ratings at 72% with Missouri cut to 33%, showing the weather and supply-concern rally that fed the early part of the move.
