Corn Futures Enter Bear Market on Rising U.S. Stockpiles
This article is for subscribers only.
Corn futures entered a bear market on the outlook for larger stockpiles and improved growing conditions in the U.S., the world’s largest producer and exporter.
Domestic stockpiles reached 3.85 billion bushels at the start of June, the U.S. Department of Agriculture said this week. That topped the average estimate of 3.72 billion in a Bloomberg survey of 26 analysts. Light showers and moderate temperatures in the Midwest are aiding corn pollination, according to World Weather Inc.