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Grain futures rebounded in mid-March 2019 after hitting new yearly lows, with traders focused on US-China trade talks. Flooding continued on the Ohio River and a large upper Midwest snowpack, while cool, wet weather threatened to delay Midwest fieldwork.
Wet conditions and possible planting delays raise the risk of reduced early corn and soybean acreage, supporting prices. Ongoing China trade negotiations remain the main swing factor for demand.
farmprogress.comNational Hog Farmer StaffMar 15, 2019After 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.
After 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.
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.
Mid-March rebound from yearly lows with wet, cool Midwest weather and flooding threatening fieldwork supports short-covering in wheat heading into March 18.
