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Grain prices rose led by corn after hitting trade-war lows on Monday, as slow US planting and talk of a June trade deal prompted short-covering by funds holding a record sector short. Only 30% of the US corn crop was planted, the slowest pace since 2013, and soybean planting was the worst start in six years.
Planting delays raise the risk of smaller corn acreage and support prices, while weak Chinese demand for soybeans related to African Swine Fever continues to weigh on soy.
home.saxoOle HansenMay 15, 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.
