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Brownfield reports CattleFax meteorologist Art Douglas expects favorable 2019 weather for US crops, with a dry, warm Corn Belt and early planting after a wet spring risk. He warned that El Niño favors wet conditions in Argentina and dryness in Brazil, and that Corn Belt dryness could linger into summer.
Dryness forecasts in the Corn Belt and Brazil support corn and soybean prices, while expected early US planting could limit weather premium if it proves accurate.
brownfieldagnews.comMark DorenkampJan 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.
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.
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.
