
MarketsFarm's Glen Hallick reports that Canadian Prairie feed grain prices are in a weather market, with barley, wheat and corn sensitive to rainfall. Weak feed demand and limited export interest for barley have pushed old-crop prices lower.
Weak demand is the main downward force on feed barley and wheat, while dry weather would be the main upside risk that could reverse the decline.
Not enough comparable past events yet for a historical read.
After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% over 20.
After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% 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.