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Continued wet weather and flooding stopped many farmers from planting corn, and the expected short corn crop lifted grain prices by about 50 cents. Colorado sorghum producers expect normal to slightly above-normal sorghum acres because of the long planting window.
A 50-cent grain rally plus a longer sorghum planting window raises the odds of more sorghum acres, which would cap sorghum prices later in the season.
smartfood.orgJun 7, 2019Not enough comparable past events yet for a historical read.
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.
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.
