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Grain futures rose on February 27, 2018, with CBOT wheat up 7.25 cents and corn up 2.25 cents. Wheat gained on dry US Southern Plains forecasts and cold-related concerns in Europe, while Argentine corn crop conditions declined.
Russian wheat was quoted at $205 per tonne FOB.
Dry US Plains weather and deteriorating Argentine corn conditions tighten global supply, supporting wheat and corn prices. Potential Indian wheat imports of 5-7 million tonnes would further reduce stocks.
graincentral.comLiz WellsFeb 26, 2018After 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.
After 322 past bullish weather events, Wheat (HRW) moved a median -0.1% over 5 sessions (49% higher; middle half -2.5% to +3.2%), and +1.0% over 20.
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.
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.
