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Crop consultant Missy Bauer says a hot, very dry final month has caused corn to mature and dry down too quickly, and has hurt soybean pod filling after a strong podding start. Yield expectations are being scaled back from the earlier USDA and Pro Farmer forecasts.
Lowered yield expectations after earlier optimism tighten the outlook for corn and soybean supply, which is supportive for feed prices.
agweb.comJack HeffronSep 18, 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.
