Corn prices have taken a hit recently as weather conditions and global politics create instability in the market.
Spot corn prices quickly pulled back to $6.50 per bushel this week, the lowest since late December 2022 and falling a sizeable 27 cents per bushel on the week.
S&D and fundamental factors
Turbulent news in South America this week as cold/frost hit portions of Argentina over the weekend, which only adds to the list of their challenges for 2022/23—right now, the cold appears to impact more heavily on the soybean crop vs. corn.
Weather, macro indicators, and news
Ukraine-Russia war hit the one-year mark today. China called for a ceasefire in Ukraine and has offered a 12-point peace plan. However, U.S. intelligence is also reporting that China is considering selling ammunition and weapons to Russia to fight the war.
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Posted by: Information Services Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.