Unfortunately, it was another rough week for commodities - especially corn - who finished its 6th consecutive week lower and marking the lowest nearby futures close since December 2020.
We aren’t alone in our trek lower, however, as China’s Dalian futures continue to make new lows as well.
China’s record 2023 crop would be the obvious culprit of a notable drop in domestic board prices… after all, this is their third record crop in a row:
(cough, cough as if any data re China is reliable…)
Keep reading with a 7-day free trial
Subscribe to No Bull to keep reading this post and get 7 days of free access to the full post archives.