
USDA-NASS data for the week ending June 22 showed above-average conditions for most Midwest corn and soybean crops. Iowa corn led at 83% good to excellent, while Indiana and North Dakota declined and North Dakota fell to 55% good to excellent.
Higher crop ratings point to larger expected yields, which is bearish for corn and soybean prices. Weak ratings in North Dakota and Indiana are localized and do not offset the broader picture.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 788 past bearish report events, Soybeans moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), 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.