Loading…
DTN's national cash corn index reversed sharply higher in May, reaching about $4.00 a bushel, near a four-year high, as planting concerns persisted. The soybean index gained 48 cents to $7.96 as the rally caught bearish speculators short.
Delayed planting raises the risk of smaller corn and soybean crops, supporting feed grain prices. Soybean upside is limited by near-1-billion-bushel ending stocks and stalled China talks.
dtnpf.comTodd HultmanJun 3, 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 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.
