Loading…
Canadian and US crop futures rose on July 27 as hot, dry weather hit the Canadian Prairies and missed rain in the US Midwest. Saskatchewan crop ratings fell sharply, with durum good-to-average at 21 percent, and the US Wheat Quality Council pegged spring wheat yields at 38.1 bushels per acre.
Prairie drought and poor US spring wheat yields reduce supplies of high-protein wheat and canola, supporting feed grain and oilseed meal prices.
producer.comD'Arce McMillanJul 27, 2017After 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 322 past bullish weather events, Wheat (HRW) moved a median -0.1% over 5 sessions (49% higher; middle half -2.5% to +3.2%), and +1.0% over 20.
Not enough comparable past events yet for a historical read.
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.
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.
