# A bullish downgrade? - StockCo New Zealand

> 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.

- Date: 2017-06-01 · published 2017-06-01T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/70573-a-bullish-downgrade-stockco-new-zealand
- Commodities: [Sorghum](https://feedsoft.ai/c/SORGHUM.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

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.

## Read by commodity

- BARLEY: bullish ▲
- SORGHUM: bullish ▲

## Sources

- stockco.co.nz: https://stockco.co.nz/a-bullish-downgrade/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.