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DTN reports that only 5 percent of US corn was planted as of April 22, one-third of the five-year average and the slowest pace for that date since 2014. Cold, rain and snow have slowed fieldwork across the Midwest, and even fertilizer application has been difficult.
The slow planting pace raises the risk of reduced yields or a shift to later-planted acres, which supports corn and soybean prices. Prices will depend on whether May planting recovers.
dtnpf.comBryce AndersonApr 24, 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.
