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Chicago, Kansas and Minneapolis wheat, corn and soybeans all closed firmer on February 17, 2021, as winter kill concerns grew after the recent cold snap. Snow cover maps were circulating, and Winnipeg canola and MATIF wheat also rose.
Concern about winter wheat losses in the US and Black Sea regions supports wheat prices, which feeds into higher wheat and corn costs for feed buyers.
graincentral.comGuest AuthorFeb 17, 2021After 1,072 past bullish weather events, WHEAT moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
After 322 past bullish weather events, KWHEAT moved a median -0.1% over 5 sessions (49% higher; middle half -2.5% to +3.2%), and +1.0% 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 1,079 past bullish weather events, SOY 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.
