Cme corn futures analysts highlight that CME corn

Analysts highlight that CME corn futures’ volatility index has spiked to multi-week highs, with spot prices near $4. The other day within the aforementioned top three was July 8, 2024, a day that a Crop Progress report was released. Crop Progress, released weekly during the planting season, reports on the crop condition and growing stage by crop and by region. July 8, 2024, Crop Progress provided a high percentage of U.S. corn to be in “good” or “excellent” condition, suggesting high yields and thus high supply for the crop year, plunging Corn futures deeper, feeding momentum from the bearish Acreage report only a week and a half prior. Issued four times a year by the National Agricultural Statistics Service (NASS), these reports offer updates on stocks of corn and other major grain & oilseed crops by state and by position (on- or off-farm storage). CME corn futures advanced to $4.76 after stronger-than-expected ethanol demand reports. The correlation between crude oil prices and corn is reasserting itself, giving energy-linked traders a fresh entry point.