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Corn and wheat posted large gains on Friday as wet weather continued to delay planting across the Corn Belt. Soybeans rose moderately, and NOAA forecast more rain and a wetter-than-average summer.
Persistent planting delays and a wet outlook threaten reduced acreage and late-planted yields, supporting feed grain prices.
highlinegrain.comMay 24, 2019
alliance-grain.comMay 22, 2019After 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 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 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 70 past bearish weather events, Wheat (HRW) moved a median -0.6% over 5 sessions (41% higher; middle half -3.9% to +2.5%), and -1.1% 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.
Wet weather delaying Corn Belt planting and a wetter summer forecast produced large corn and wheat gains, adding supply-risk sentiment during the window (though the listed date is slightly inconsistent).
