
Grain futures rose early in the session as corn led a rally to new highs on dry conditions in Argentina and excess rain slowing Brazil's soybean harvest and delaying safrinha corn planting. Soybeans lagged corn due to competition from cheaper Brazilian supplies.
Argentine yield losses and delayed Brazilian safrinha planting tighten global corn supply, and corn strength is pulling up wheat and soybean prices.
After 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 1,072 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.
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.