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US corn futures gained 15% in May to reach their highest level since June 2016 as heavy rain and flooding delayed planting. Soybeans rose about 2% and wheat about 12% over the month.
Analysts warned of low inventories and tight plantings.
Record flooding and planting delays point to tighter US feed grain supplies and higher prices for corn-based feed ingredients into next year.
cnbc.comMaggie FitzgeraldMay 29, 2019After 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 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 1,072 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.
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.
