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Crop prices climbed after mid-May inclement weather left farmers well behind on planting and raised fears that some farmland would go unsown. The rally continued as the gap versus typical planting progress widened.
Late and reduced planting threatens corn and soybean output, supporting prices for feed grains and the meals made from them. Buyers should expect firmer feed costs while planting uncertainty persists.
wsj.comJoe WallaceMay 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 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.
