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Grain futures consolidated after an early-June rally tied to a Kansas snow event, and local basis moved little. Dry weather outlooks for parts of the US Northern Plains and southern Australia are supporting prices, and the International Grains Council cut 2017/18 global corn stocks by 34 million tonnes.
Weather risk and a smaller corn stock outlook may firm feed grain prices, particularly sorghum and barley, which are substitutes for corn in feed rations.
stockco.co.nzAdminJun 1, 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.
