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Unseasonably mild weather across the US Plains and Midwest is slowing livestock feed consumption, with feed grain sales staying tepid ahead of the usual November pickup. Record corn and soybean harvests have left feed supplies abundant and prices at multi-year lows.
Weak feed demand from cattle and hog herds keeps grain prices depressed, with little near-term prospect of a demand-driven rebound.
agweek.comKarl Plume, Michael Hirtzer, ReutersNov 9, 2016After 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.
Not enough comparable past events yet for a historical read.
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.
