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US sorghum planting was 40% complete by May 31 against a 43% five-year average, and rains have improved conditions across the sorghum belt. December 2022 corn futures traded just over $6.90 per bushel, about 70 cents below the mid-May peak.
Improved planting weather and lower corn futures reduce near-term upside, though the author expects summer rallies to offer forward pricing opportunities for sorghum and corn.
feedstuffs.comJohn DuffJun 13, 2022Not enough comparable past events yet for a historical read.
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.
