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US corn and soybean futures touched one-week highs on August 29, 2019 on concerns that frost could damage late-planted crops. The most-active corn closed nearly flat at $3.71-1/4 a bushel and soybeans rose 0.3 percent to $8.68-1/2, while traders awaited details of a Trump ethanol package.
Frost risk to late-maturing crops supports prices, but mild dry weather favouring crop development and a possible ethanol support package limit the upside.
agcanada.comAGCanadaAug 30, 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 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.
