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July corn futures closed at $3.66 1/2 on April 28, up 2.75 cents on the week on concerns over US planting progress. Traders are focused on the May 10 benchmark of 50% planted, which historically correlates with optimal yields.
The article reviews recent yield history tied to early planting.
Slow planting pace raises the risk of yield loss from late-summer heat, which would support corn prices. Market attention to planting timing keeps a weather premium in feed grain pricing.
seeitmarket.comMarcus LudtkeMay 1, 2017After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.
