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Wheat, corn and soybean prices rose 18, 14 and 6 percent in 2018 through May 18, reflecting a turnaround from weak prices. USDA's first 2018/19 outlook projected a sharp decline in world corn stocks, pushing the stocks-to-usage ratio to 14.5 percent from 21.8 percent.
Tight global corn stocks make the new crop vulnerable to weather, supporting corn prices and feed costs, though this is an investment analysis rather than a new event.
wisdomtree.comJun 5, 2018After 151 past bullish macro events, Corn moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), and -0.3% over 20.
After 57 past bullish macro events, Wheat (SRW) moved a median +0.3% over 5 sessions (65% higher; middle half -0.5% to +1.7%), and -0.7% over 20.
After 123 past bullish macro events, Soybeans moved a median +0.3% over 5 sessions (60% higher; middle half -1.0% to +1.8%), and -0.4% 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.
