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Chicago wheat hit its highest in almost two weeks as dry weather slowed Russian planting, with winter wheat sowing at an 11-year low per Sovecon. Soybeans rose on Brazilian dryness that halted Madeira river grain transport, while corn eased.
Russian drought and Brazilian river disruptions support wheat and soybean prices, tightening feed grain and meal supply outlooks.
brecorder.comReutersSep 26, 2024After 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 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 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% 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.
