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US corn futures fell on June 1 on technical selling, fund long liquidation, and favorable crop ratings, with 79% of the crop rated good to excellent. July corn settled at $3.91-1/2, down 14.5 cents for the week, its largest weekly drop since June 2017.
Wheat also declined as the US winter wheat harvest began, while soybeans firmed ahead of US-China trade talks.
Heavy fund long positions and strong crop ratings leave corn vulnerable to further liquidation, and the harvest start adds seasonal wheat pressure for feed buyers.
manitobacooperator.caGFM Network News, Julie IngwersenJun 1, 2018Not 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.
