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On December 26, 2023, March corn rose 7 1/4 cents and March SRW wheat gained 20 cents amid Middle East tensions and Ukraine-Russia military reports. Soybeans and soymeal also rose, while soyoil fell.
Live cattle closed $1.875 higher.
Higher crude oil and geopolitical risk lift grain and oilseed prices through energy and Black Sea supply concerns. Soyoil weakness, however, signals softer biofuel-linked demand.
profarmer.comPro Farmer EditorsDec 26, 2023After 323 past bullish geopolitics events, Corn moved a median +0.5% over 5 sessions (57% higher; middle half -1.5% to +2.9%), and +0.9% over 20.
After 361 past bullish geopolitics events, Wheat (SRW) moved a median +0.7% over 5 sessions (58% higher; middle half -1.4% to +3.7%), and +1.3% over 20.
After 72 past bullish geopolitics events, Soybeans moved a median +0.4% over 5 sessions (60% higher; middle half -1.0% to +2.5%), and -1.0% over 20.
After 34 past bullish geopolitics events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +3.5%), and +1.2% 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.
