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CBOT July soybeans rallied 2.7% to a three-month high on Thursday as forecasts turned wet for northern growing areas, threatening further planting delays. Corn fell on disappointing export data, while wheat was mixed with spring wheat firming on planting slowdowns in the northern Plains.
Planting delays in North Dakota, South Dakota and Minnesota raise supply risk for soybeans and spring wheat, supporting feed protein prices, while weak corn export demand pressures corn.
grainews.caMark Weinraub, GFM Network NewsMay 26, 2022After 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 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% 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.
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.
