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CBOT agricultural futures declined in the past week, with corn the biggest downside leader after forecasts trended wetter across Iowa and the Eastern Midwest. AgResource maintains a bullish outlook, citing Brazil's year-over-year production decline and rising Chinese and non-Chinese import needs.
U.S. wheat futures also ended weaker on supply pressure from winter wheat harvests.
Wetter forecasts ease yield worries and push corn lower, but tightening US exporter stocks and strong import demand could support prices later in the crop year. Feed buyers may find current prices attractive for forward coverage.
ukragroconsult.comJul 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.
