
Corn futures fell on Monday, with contracts down 2.5 to 13.5 cents, as crude oil lost $7.40 and forecasts improved. USDA's Crop Progress showed 78% of the US crop silking and condition ratings down 4 points to 63% good to excellent.
Lower crude weakens the ethanol-linked demand outlook for corn, and rain forecasts ease yield-stress concerns, both pressuring corn prices. Lower corn prices can make feed grains cheaper for buyers.
Not 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.
Reports corn down on Monday as crude fell and forecasts improved; the ratings cut to 63% G/E came after the close so it was not a driver.