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Purdue economist Chris Hurt says delayed corn planting could push farmers to switch acres to soybeans, since soybean prices rose 25% since March while corn rose about 4%. The shift is driven by a USDA report showing lower global inventories, stronger export demand, and Argentine rain-related harvest delays.
A shift of acreage from corn to soybeans would tighten corn supply later and expand soybean supply, affecting relative feed grain and oilseed prices.
ocj.comBrianna SmithMay 12, 2016After 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.
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.
