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Crop reports globally were generally good, with Russian wheat estimated at a record 78 million tonnes for 2019/20. US spring wheat planting was 27% behind the four-year average and corn planting at 23% was half of normal as of May 5.
Irish harvest prices were quiet, with Glanbia offering €151/t for green wheat.
Record Russian wheat supplies weigh on world prices, while delayed US planting raises weather risk and supports corn and wheat.
agriland.ieSiobhán WalshMay 11, 2019After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% over 20.
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.
