Loading…
Soybean futures posted their largest weekly gain in 23 years on concern over Midwest heat and dryness during early August. Corn and wheat also rose for the week, with wheat supported by sharp gains in corn and soybeans and uncertainty over Ukrainian shipments.
Heat risk to soybean and corn yields in a tight supply environment supports feed grain prices, while uncertainty over Ukrainian shipments keeps wheat firm.
profarmer.comPro Farmer EditorsJul 29, 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.
