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Chicago corn, wheat and soybean futures edged higher as traders weighed contrasting rain forecasts for US growing areas. Attention turned to the USDA June 30 acreage report, with analysts expecting higher corn and soy area than in March.
Rain forecasts across the Midwest have pressured prices, while dry northern zones keep drought risk alive; expectations for larger acreage cap upside into the report.
brecorder.comReutersJun 25, 2021After 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.
After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% over 20.
After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
