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A Reuters column reports that US planting delays this year were caused by persistently wet weather following a record-wet season that saturated soils. Farmers cannot plant into overly wet fields, and the article describes hardship for corn and soybean growers.
Prolonged planting delays raise the risk of lower corn and soybean yields, supporting prices for feed grains and protein meal.
reuters.comKaren BraunMay 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.
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.
