Loading…
Corn fell on June 12, erasing three days of gains, as forecasts called for rain in the Midwest to ease dryness. Soybeans and wheat also closed lower, and spring wheat fell back from contract highs.
Export inspections for corn, soybeans and wheat came in above the prior week, and Saudi Arabia bought 805,000 tons of wheat.
Expected rain eases the weather premium that had supported grain futures, which pressures prices across corn, soybeans and wheat. Firm export demand limits how far the decline can go.
feedstuffs.comBob Burgdorfer 1Jun 12, 2017After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% over 20.
After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% 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.
