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Ohio's corn and soybean harvest finished well ahead of schedule with yields far below expectations. Some drought-hit fields produced only about 20% of their potential, and 87 of 88 counties were parched over the summer.
Severe drought losses in Ohio reduce local supply and reinforce the national yield cuts, supporting corn and soybean prices.
mansfieldnewsjournal.comZach TuggleNov 1, 2024After 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, Soybeans 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.
