◂ Event Timeline

Oct 6, 2020WEATHERUS

Dry weather pushes CBOT wheat, soybeans to multi-year peaks

CBOT wheat and soybean futures rose to multi-year highs on dry weather in key US production areas, while corn reached an 8.5-month high. Brazilian planting is delayed by dry soils, and dryness in Argentina adds to crop stress.

WHY IT MATTERS

Delayed South American planting extends the US export season and supports demand for US supplies. Dry weather in key producing regions raises prices for soybeans, corn and wheat.

AFFECTSWheat (SRW)▲Soybeans▲Corn▲

SOURCE
financialpost.comReutersOct 6, 2020

Price reaction & history

Wheat (SRW)▲bullishSO FAR1d +0.2%5d +0.6%20d +0.1%

After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.

Mar 8, 2021Soybeans hit highest in almost 7 years on S.American crop worry | Financial Post-2.8%
Jul 29, 2022Soybeans set for biggest weekly gain in 22 years as U.S. Midwest heats up | Financial Post+4.4%
Apr 22, 2021Corn highest since 2013, soy tops $15 and wheat over $7 on supply fears | Financial Post+3.9%
Jan 31, 2022Soybeans, corn hit 7-month highs on South American crop worry | Financial Post-1.7%
Jul 28, 2021Wheat climbs on signs of drought damage in northern U.S. Plains | Financial Post+2.7%

Soybeans▲bullishSO FAR1d +2.2%5d +1.2%20d +2.9%

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.

Nov 20, 2020Soybeans at four-year high as demand and weather keep market bubbling | Financial Post+1.2%
Jul 27, 2022Soybeans rally as U.S. forecast turns hot, dry | Financial Post+2.4%
Dec 30, 2022Soybeans set to gain for 4th year amid Argentina drought, China demand | Financial Post-0.5%
Mar 8, 2021Soybeans hit highest in almost 7 years on S.American crop worry | Financial Post-1.3%
Jul 29, 2022Soybeans set for biggest weekly gain in 22 years as U.S. Midwest heats up | Financial Post+0.4%

Corn▲bullishSO FAR1d +0.9%5d +2.6%20d +6.8%

After 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.

Nov 20, 2020Soybeans at four-year high as demand and weather keep market bubbling | Financial Post+0.1%
Dec 30, 2022Soybeans set to gain for 4th year amid Argentina drought, China demand | Financial Post-2.1%
Mar 8, 2021Soybeans hit highest in almost 7 years on S.American crop worry | Financial Post+2.7%
Jul 29, 2022Soybeans set for biggest weekly gain in 22 years as U.S. Midwest heats up | Financial Post+2.4%
Apr 22, 2021Corn highest since 2013, soy tops $15 and wheat over $7 on supply fears | Financial Post+11.6%

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.

Wheat (SRW) WHEAT · GP ▸

——— · ·

Soybeans SOY · GP ▸

——— · ·

Loading…