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Showers and a few thunderstorms covered southern Corn Belt production areas, and wet fields delayed fieldwork in the eastern Corn Belt. Topsoil surpluses ran 40 to 56% in Illinois, Indiana, Michigan and Ohio.
Drought continued to stress winter wheat in Colorado, where 39% of the crop was rated poor to very poor.
Planting delays in the eastern Corn Belt support corn prices modestly. Drought stress on Plains winter wheat supports HRW wheat prices.
brownfieldagnews.comGreg SouljeMay 27, 2020After 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 322 past bullish weather events, Wheat (HRW) moved a median -0.1% over 5 sessions (49% higher; middle half -2.5% to +3.2%), and +1.0% 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.
