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Chicago soybeans rose for a fifth straight session to their highest in more than two weeks as hot, dry conditions in the U.S. Midwest threatened yields. Wheat gained on doubts about Black Sea supplies despite the agreement to reopen Ukrainian exports.
Dry weather threatens pod development and yields, and doubts over Black Sea wheat supply add upside pressure to grain prices.
brecorder.comReutersJul 28, 2022After 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 1,465 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 1,072 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.
