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DTN analyst Todd Hultman notes that U.S. cash corn prices fell more than 25 cents from late July to near $3.00, the lowest in nine months. He argues corn prices depend on many factors beyond crop size and that USDA production estimates carry wide margins of error.
Cash corn at nine-month lows reflects bearish sentiment, but the commentary cautions against overreliance on early yield estimates, which keeps price direction uncertain into the September WASDE.
dtnpf.comTodd HultmanAug 29, 2017Not 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.
