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CBOT grains closed higher on October 19, 2020, with December corn up 3 cents, soybeans up 4 cents and December wheat up 2 cents. Wheat reached its highest level since December 2014, and December soybean meal set new contract highs.
Crop progress showed corn harvest at 60% complete and soybean harvest at 75%.
Strong export demand and dry weather in wheat areas and South America support feed grain and meal prices, raising input costs for feed buyers.
kyfb.comOct 19, 2020After 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.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% 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.
