Loading…
An Arkansas Extension outlook for the week of May 14, 2018 says crude oil reached its highest since late 2014 and US equities were rising on inflation expectations. It names support levels of $3.91 for corn, $9.80 for soybeans and $4.90 for wheat, and calls cotton bullish.
Stronger energy and inflation expectations can lift commodity prices broadly, but grains need to hold support levels to stay bullish. A break below those levels would weigh on feed grain costs.
farmprogress.comBobby CoatsMay 14, 2018After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
After 78 past neutral macro events, Corn moved a median +0.3% over 5 sessions (55% higher; middle half -1.1% to +1.6%), and -0.6% over 20.
After 50 past neutral macro events, Soybeans moved a median -0.3% over 5 sessions (48% higher; middle half -2.2% to +1.3%), and -0.8% over 20.
After 13 past neutral macro events, Wheat (SRW) moved a median -0.3% over 5 sessions (46% higher; middle half -2.0% to +0.2%), and -2.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
