In the corn market, there have been additional supplies due to the damaged new-crop wheat flowing into the feed market, combined with auctions of old rice to feed mills and auctions of imported corn. Despite this, the inverse in Sept/Jan has remained relatively steady to stronger over the past month.
Jan/May 2027 corn has been weaker and is close to historical averages for this time of year.
Sept/Jan continues to trade at relatively wide carries due to the strong soybean arrivals and crushing...