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US soybean and corn futures eased in technical selling after two days of gains, despite rain concerns in the Midwest that could delay harvest. December wheat fell four cents to $5.15-1/4 a bushel after failing to break resistance.
Harvest delays from wet weather raise near-term supply risk, but technical selling dominated prices. Wheat moved lower in sympathy with corn and soybeans.
agcanada.comAGCanadaOct 3, 2018After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% over 20.
After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), 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.
