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USDA crop progress data show Illinois corn planting at 2% and soybean planting at 1% in the latest week, well behind the five-year average of 21% for corn. Cold, wet weather limited fieldwork, and USDA and University of Illinois experts warn that yield losses could mount if planting delays continue into May.
Slow planting raises the risk of lower yields if May weather does not improve, which supports corn and soybean prices.
wgem.comMike MiletichApr 25, 2022After 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 1,079 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.
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.
