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July corn futures rose 1.7% on weather-driven premium as planting was delayed, with 49% of the US crop planted. Weekly export sales were 442 KMT net with 879.3 KMT shipped, and cash corn prices rose 3% in the week.
Prevented planting acreage expectations were rising, with some analysts estimating higher figures.
Planting delays and possible higher prevent-plant acres could reduce 2019/20 corn supplies, supporting corn and sorghum prices and feed costs.
grains.orgMay 23, 2019grains.orgMay 23, 2019grains.orgMay 23, 2019Not enough comparable past events yet for a historical read.
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.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
