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Recent crop conditions suggest that July's cooler, wetter weather may have brought average US corn yields back toward trend. A dry and potentially warmer pattern is expected through the end of July, which could limit that outlook.
A return to trend yields would add supply and pressure corn prices, but forecast dryness could offset that effect and keep prices supported in the near term.
reuters.comKaren BraunJul 18, 2023After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
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.
