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USDA data show U.S. farmers held 2.841 billion bushels of corn on June 1, the highest June 1 on-farm stocks in 29 years. Total corn stocks were 5.225 billion bushels, the most for the period in 30 years.
Very large stocks and weak dealer basis bids point to continued price pressure until harvest, supporting cheaper feed corn for buyers.
yahoo.comMark WeinraubJun 30, 2017After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
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.
