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Midwest flooding has damaged fields, swamped grain bins and disrupted rail, road and barge shipments. Corn and soybean prices fell on April 1 after USDA released planting intentions and grain stocks data.
Flood-related shipping disruptions and damaged fields add uncertainty to supply and delivery, but the bearish USDA stocks and planting data weigh on prices.
proag.comTicToc by Bloomberg ✔ @tictocApr 1, 2019After 357 past bearish weather events, CORN moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
After 363 past bearish weather events, SOY moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% 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.
