Loading…
The US Grains Council market perspectives report noted December corn futures rose 2% week-over-week on variable weather. Hot, dry conditions in the Southern Plains contrasted with wet conditions in the northeastern Corn Belt, while the WASDE showed lower world corn stocks.
Weather-driven yield concerns and reduced world ending stocks support corn prices, though forecasts for favorable rains in the main producing areas limit the upside.
grains.orgJul 19, 2018grains.orgJul 19, 2018grains.orgJul 19, 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.
Not enough comparable past events yet for a historical read.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% 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.
