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DTN forecasts heavy rain of 1 to 3 inches over parts of the Western Corn Belt during the first week of October, which would delay the corn and soybean harvest. Forecast models disagree, with the European model showing about half the rainfall of the US and Canadian models.
Harvest delays raise the risk of quality problems and slower farmer selling, which can briefly firm nearby corn and soybean prices. The forecast remains uncertain, so the price effect is likely limited.
dtnpf.comBryce AndersonSep 29, 2017After 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, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% 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.
