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Minneapolis spring wheat futures rose about 1.6% and oats soared as wet fields in the northern US slowed planting. As of Sunday, 49% of spring wheat was seeded, 34 points behind the typical pace, with Minnesota and North Dakota far behind.
Delayed northern planting raises concern over spring wheat and oat output, widening the spring wheat premium over soft red winter wheat and supporting prices for feed grains.
grainpricenews.comMike VerdinMay 24, 2022After 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 68 past bullish weather events, Oats moved a median -0.8% over 5 sessions (47% higher; middle half -3.6% to +3.9%), and -0.3% over 20.
Not enough comparable past events yet for a historical read.
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.
