Loading…
Agweek's May 26, 2023 market wrap says July corn traded higher every session that week on weather forecasts and old-crop supply concerns. Dry heat is spreading from the northern Plains into the Corn Belt, and Omaha has received only a quarter inch of May rain against a normal 3 to 3.5 inches.
Expanding dryness and tight old-crop supplies support nearby corn futures and the feed grain complex.
agweek.comMichael JohnsonMay 26, 2023After 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.
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.
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.
