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May corn futures rose 3 cents on the week as the market rebounded from a selloff. USDA export sales of 855 KMT beat expectations, and Midwest flooding and a cold, wet pattern raised the likelihood of delayed planting.
Late planting could shift acres from corn to soybeans and tighten corn ending stocks, supporting corn prices into next year.
grains.orgMar 21, 2019grains.orgMar 21, 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.
Not enough comparable past events yet for a historical read.
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.
