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The U.S. Grains Council's June 1 market perspectives report notes range-bound corn futures and crop condition ratings near four-year lows, with 65 percent of corn rated good to excellent. It estimates yields near 167 bushels per acre, about 3 below USDA's May forecast.
Lower-than-expected crop ratings point to a more average yield, which could support corn prices if conditions continue to deteriorate.
grains.orgJun 1, 2017grains.orgJun 1, 2017grains.orgJun 1, 2017Not enough comparable past events yet for a historical read.
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.
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 118 past bearish weather events, Soybean Meal moved a median -0.8% over 5 sessions (35% higher; middle half -3.2% to +0.4%), and -1.6% 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.
