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A University of Illinois marketing class heard from T-Storm Weather that April 2018 could be one of the three coldest on record in the Corn Belt. Analysts say similar years since 1960 saw corn yields fall short in six of seven cases, and the detrended 2018 yield estimate is about 171 bushels per acre.
Historical analogs point to a likely yield shortfall, which supports corn and soybean prices if planting delays persist. Markets are trading on weather risk ahead of the crop outcome.
narrowrow.comTodd E. GleasonApr 20, 2018After 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.
