
Farmers rushed to plant corn in the Midwest ahead of midweek rain, with planting underway in Iowa and Illinois. Forecasts called for heavy rain of up to 6 to 8 inches in parts of the Midwest and cool, wet conditions in the 6 to 10 day outlook.
Soybean cash basis bids rose while farmer selling stayed light.
Rapid planting ahead of wet weather supports near-term corn and soybean supply expectations, but heavy rain could cause planting delays. Higher basis bids suggest firming local soybean demand.
After 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.
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.