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Grain futures recovered part of the previous day's sharp drop after new US tariff threats on China. Forecasts call for below-normal rainfall across most of the Corn Belt after the next week, while southern crop areas stay very wet.
Many growers are still waiting for fields to dry before planting corn.
Corn planting delays and a drier outlook in the later forecast period support corn prices, while tariff uncertainty continues to weigh on wheat and soybeans.
highlinegrain.comMay 7, 2019After 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 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.
After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% 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.
