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U.S. corn futures surged to their highest level in nearly a year on June 8, 2017. Many growers who had finished planting sold remaining stocks from last year's crop to take advantage of the rally.
Heavy farmer selling into a rally adds supply to a market already burdened by large global stockpiles, which can cap gains. Feed buyers may see softer cash basis as sales continue.
reuters.comMichael HirtzerJun 8, 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.
