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Winter wheat is emerging earlier than normal in dry conditions across key growing areas, supporting Chicago and Kansas City futures. South Korea bought 60,000 tons of optional origin feed wheat, and soybeans and corn were mostly lower on profit taking.
Dry conditions in the Plains raise crop risk and support wheat prices, though weak world supply and slow U.S. export demand limit upside.
brownfieldagnews.comJohn PerkinsMar 6, 2017After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
After 2,467 past weather events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +1.7%), and +0.6% over 20.
After 1,964 past weather events, Soybeans moved a median +0.1% over 5 sessions (51% higher; middle half -1.7% to +1.8%), and +0.3% over 20.
After 322 past bullish weather events, Wheat (HRW) moved a median -0.1% over 5 sessions (49% higher; middle half -2.5% to +3.2%), and +1.0% 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.
