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DTN reports that wet weather slowed corn and soybean harvest in the western Midwest and northern Plains, while winter wheat planting in the southern Plains is behind normal. Sea surface temperatures show La Niña is still possible in coming months.
Harvest delays are a minor supply-timing factor, and a potential La Niña signals drier risk for South American crops later, which can support soybean prices.
dtnpf.comMike PalmerinoOct 3, 2017After 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 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 29 past neutral weather events, Wheat (HRW) moved a median +0.6% over 5 sessions (52% higher; middle half -1.9% to +2.3%), 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.
