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Global grain markets moved mostly lower during the week as dry weather continued in the US and Argentina, while the Dow Jones decline spilled over into commodities. Kansas winter wheat rated poor or very poor doubled to 44% from December to January.
Brazil's early soybean harvest benefited from dry weather, though recent rain slowed progress.
Drought in the US and Argentina keeps supply risk in grains and oilseeds, but weak equity markets and Brazil's harvest pressure limit gains. Feed buyers should expect volatile but mixed price direction.
farmersjournal.ieFeb 7, 2018After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), 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.
