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An Ohio farm columnist describes a very wet 2019 Midwest season, with only 4 percent of Ohio's corn planted as of 12 May. Weather, China trade issues and large carryout stocks are weighing on grain markets.
Planting delays raise the risk of reduced corn acreage, which could support prices, but large carryout and weak China demand keep the market bearish.
farmanddairy.comMarlin ClarkMay 14, 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 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% 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.
