Warm, dry weather sped crop maturity, and US farmers had harvested 47% of the second-largest corn crop on record by Oct. 13, ahead of the five-year average of 39%.
The rapid harvest is straining on-farm and commercial storage capacity.
Fast harvest pushes supply to market quickly and storage shortages can widen harvest-time basis discounts, pressuring nearby corn and soybean prices.
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 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.
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.