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Adam Pukalo of P.I. Financial said wheat gained 45 cents a bushel and November canola rose about C$18/t in the week to May 28, driven by strong Chinese corn interest and dry weather in the Dakotas.
Frost in the week may have raised canola concerns.
Dry Dakota weather and Chinese demand support wheat and canola prices, tightening feed grain supply for buyers.
620ckrm.comHarvard MediaMay 28, 2021After 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.
Not enough comparable past events yet for a historical read.
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.
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.
