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Grain Farmers of Ontario's May-June 2018 commentary reports US corn planting at 29% versus 45% a year earlier and soybean planting at 15%. It summarizes the May WASDE, which projected 2018/19 US corn ending stocks at 1.682 billion bushels and soybean ending stocks at 415 million, with reduced Brazilian corn and Argentine soybean estimates.
Lower projected US corn ending stocks and smaller South American crops support feed grain prices. Planting delays could further tighten supply if spring weather persists.
gfo.caStory by: Grain Farmers of OntarioMay 14, 2018After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
