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Soybeans and corn fell on Tuesday as more rain entered the forecasts and a stronger dollar added pressure. Wheat also finished lower on harvest pressure, strong winter wheat yields, and the firmer dollar.
Commercial soybean demand remained solid.
Rain forecasts ease weather risk for the crop and reduce the upside in corn and soybeans. Solid commercial demand for soybeans limits how far prices can fall.
brownfieldagnews.comTom SteeverJun 22, 2016After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% over 20.
After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% 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.
