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Chicago wheat rebounded on expectations of lower production in key exporting countries after losses the previous session. Corn rose to a two-week high on excessive rains in the US Midwest, and soybeans gained modestly.
Lower exporter output and heavy rain delaying corn maturity support prices, although Russia's decision not to impose export duties limits upside in wheat.
esmmagazine.comSteve Wynne-JonesSep 5, 2018After 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 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.
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.
