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US corn futures on the Chicago Board of Trade have been highly volatile, hitting an upper limit on June 30 after a USDA acreage report came in below expectations, then touching a lower limit after the July 4 holiday on rain forecasts. Analysts expect prices may pause but stay unpredictable until the US new-crop harvest in September-October.
Brazil's lower corn output may open export markets for US corn.
Tight US corn inventories make prices reactive to any supply news from Brazil or the northern Corn Belt, and Brazilian shortfalls could boost US export demand. Traders will watch the August USDA yield survey as the next major catalyst.
spglobal.comShikha Singh, Mugunthan KesavanJul 12, 2021Not 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.
