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Chicago grain futures rose 3.6% in the week ended December 8 after contract lows on November 29. Wheat strength and solid U.S. corn export demand supported prices, while scenarios for Brazil's second corn crop also weighed on sentiment.
Fund short covering and firm export demand tighten nearby supply, supporting corn and wheat prices into year-end. Brazil's safrinha crop outlook could cap gains if it looks large.
reuters.comKaren BraunDec 11, 2023Not 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.
