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Corn and soybean futures rallied to multi-month highs as Midwest planting delays and widespread flooding cut expected acreage, with major river flooding disrupting transport. Prices retreated Friday after President Trump threatened new tariffs on Mexican goods, while live and feeder cattle futures fell to long-term lows.
Lost acreage and river disruptions tighten grain supplies and raise feed costs, while tariff threats add trade-related downside risk to soybeans and livestock.
agrimarketing.comJun 3, 2019After 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.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
Not enough comparable past events yet for a historical read.
After 18 past bearish weather events, Live Cattle moved a median +0.1% over 5 sessions (56% higher; middle half -0.7% to +0.9%), and -0.1% 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.
