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Feedstuffs reports the same weekly Midwest grain movement update, saying farmer selling of corn and soybeans stayed light and may rise to fund spring planting. Wet weather has delayed planting, with more rain forecast through mid-April for Iowa, Illinois and Missouri.
Delayed planting from persistent rain supports corn and soybean prices through acreage and yield risk. Light farmer selling tightens nearby supply and adds to the bullish bias.
feedstuffs.comBob Burgdorfer 1Apr 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, 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.
