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Canola futures rose on April 26 on short-covering and concern over wet Prairie soils delaying planting. U.S. corn fell over one percent on better Midwest planting forecasts and reports the White House is considering an executive order on withdrawing from NAFTA.
Wet Prairie conditions support canola, while easing U.S. planting worries pressure corn; a NAFTA withdrawal order would add trade uncertainty for North American feed grain and meal flows.
producer.comD'Arce McMillanApr 26, 2017Not enough comparable past events yet for a historical read.
After 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.
