Loading…
Grain markets rallied to new highs in early May after planting delays from cold, wet soils in the US, then pulled back as weather improved. Brazil's central and southern regions are suffering drought that has hurt second-crop corn, with some rain forecast in the eight-to-14-day outlook.
Brazilian drought damage to safrinha corn supports corn prices and feed supplies, while improving US planting weather limits upside.
agriculture.comRay GrabanskiMay 8, 2018After 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.
Not enough comparable past events yet for a historical read.
After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
