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DTN's 2024 Digital Yield Tour finds most Corn Belt states vying for record corn or soybean yields after a wet season ended long-term drought. Its satellite-based yield models show the strongest soil moisture profile in four years.
Widespread record-yield expectations signal larger US feed grain and meal supplies, which is typically bearish for prices.
dtnpf.comDTN StaffAug 16, 2024After 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.
