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Grain and soybean futures recovered on May 19, 2017, after earlier selloffs. July soybeans rose 0.9% to $9.53 a bushel, and corn and wheat rallied on renewed U.S. rain that has interrupted planting and raised crop damage concerns.
Analysts said Brazilian farmer selling had been limited and the real had steadied.
Wet U.S. weather is delaying planting and raising disease risk, which supports corn, soybean and wheat prices.
foxbusiness.comBenjamin ParkinMay 19, 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.
After 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.
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.
Corn and wheat rallied on May 19 as US rain delayed planting and raised crop damage concerns, adding to momentum that carried into May 22.
