Loading…
The Jul-19 corn futures contract hit a three-year high before meeting resistance near $4.38 after a rally that began May 13. Record rain and Midwest river flooding pushed planting to its slowest pace on record, and money managers cut net short positions, with record fund buying on May 30.
Record-slow planting and short-covering are lifting corn prices, with acreage and yield risk supporting feed costs. Forecast drier weather could cap gains, but flooding along rivers may keep logistics and prices volatile.
mckeany-flavell.comPeter ChurchMay 31, 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.
Not enough comparable past events yet for a historical read.
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.
