Corn and wheat rose in early trade on June 16 despite a financial market selloff after the Federal Reserve raised rates by the largest margin since 1994. Hot Midwest temperatures raised concerns about crop development, while ethanol and export demand remained strong.
Heat stress in the Corn Belt supports corn prices, and firm ethanol and export demand reinforces the bullish feed grain picture.
After 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.