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Farm Futures reports that farmer grain selling stayed light, and Midwest dealers expect sales to pick up for spring cash needs. Wet fields have delayed planting in the Midwest, with more rain forecast for Iowa and Illinois, and shipments of corn to Southeast poultry and ethanol users have been steady.
Delayed planting raises the risk of lower early acreage or yield and supports corn and soybean futures. Rain-driven planting delays are a bullish factor for new-crop prices.
farmprogress.comBob Burgdorfer Senior Editor, Farm FuturesApr 10, 2017After 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, SOY 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.
