Loading…
December corn futures fell 11 cents (3.0%) in the week to a new contract low after noncommercial selling and good Corn Belt weather. USDA rated 58% of the corn crop good/excellent, and only 6% was mature as of the report.
Favorable weather and private yield estimates below USDA's August projections still point to ample supply, which keeps corn feed prices under pressure for buyers.
grains.orgSep 5, 2019grains.orgSep 5, 2019grains.orgSep 5, 2019Not enough comparable past events yet for a historical read.
After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
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.
Documents the prior week's decline to contract lows on noncommercial (fund) selling and good Corn Belt weather, a momentum and sentiment setup for further selling.
