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Grain markets were muted on May 14 with small losses in corn, soybeans and most wheat contracts. Crude oil rose about 8% to above $27 per barrel, and gasoline and diesel also rallied.
NOAA forecast wet weather for parts of the Corn Belt.
Higher crude and diesel can support ethanol and freight costs, a modest bullish factor for corn. Wet Corn Belt weather could delay planting and add some weather premium.
pnw.coopMay 14, 2020Not 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.
