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Reuters crop watch reported the 11-field unweighted average corn yield dropped to 3.34 from 3.36, and corn conditions eased to 3.45 from 3.48. Average soybean conditions were steady at 3.84 and yield rose to 3.61 from 3.57.
Slightly weaker corn ratings and yield estimates modestly support feed grain prices, while steady soybean conditions leave soymeal largely unchanged.
reuters.comKaren BraunJul 23, 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 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% 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.
