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Chicago corn rose for a third straight session to a seven-week high after planting delays were reported, with 30% of the crop planted versus a 66% five-year average. Soybeans and wheat also gained as Trump eased concerns about the US-China trade war.
Slow U.S. planting raises weather risk to the crop, supporting corn prices and the feed cost outlook, while speculative shorts add to upward pressure.
checkout.ieDayeeta DasMay 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.
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.
