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CBOT corn and soybean futures rallied on August 31 as traders anticipated a seasonal harvest-low bounce, with September corn up 12.75 cents to $3.4275 and November soybeans up 12 cents to $9.4525. Analysts said about 2.3 billion bushels of corn carryout must now move to market at month-end.
The rally reflects short-term month-end liquidation and seasonal recovery, but large carryout supplies cap upside, so buyers should expect volatility as attention shifts to new-crop yield and quality.
grainews.caGFM Network NewsAug 31, 2017Not 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.
