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USDA data showed only 58% of US corn planted as of May 26, versus 90% a year earlier, as cool weather, rain and flooding hampered fieldwork. Analysts say acreage and yields could both fall, with possible acreage reductions of 2 to 10 million acres.
Sharply delayed planting and possible acreage cuts tighten the outlook for corn supplies, pushing feed grain prices higher and raising costs for feed buyers.
world-grain.comSusan ReidyMay 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 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% 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.
Only 58% of US corn planted with possible acreage cuts of 2 to 10 million acres, heightening supply worries across the feed complex.
