Loading…
US wheat futures rose for a sixth straight session to seven-month highs as forecasts pointed to extended dryness in the Plains. Soybeans hit a 13-month high on strong export data and drought concerns in Argentina, and corn gained in sympathy.
Expected Plains drought cuts wheat yield prospects and Argentine dryness threatens soybean supply, both lifting feed grain and protein prices. Corn gains reflect the broader grain complex firming.
manitobacooperator.caGFM Network News, Mark WeinraubMar 1, 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 1,079 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.
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.
