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World Grain reports that global weather is mostly favorable for food production over the next two months, though an El Niño is slowly forming. Production is expected to fall in parts of Russia from excess moisture and dryness, some European dryness, and drought in Canadian Prairies and eastern Australia.
Lower output from Russia, Europe, Canada and Australia would tighten wheat, barley and canola supplies, supporting prices for feed grains and meals.
world-grain.comDrew LernerJul 16, 2018After 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.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 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.
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.
