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Crop Watch reports the average soybean yield is unchanged on the week at 3.59, just above the season's lowest and consistent with the previous three weeks. Soybean yields in North Dakota rose a quarter point to 2.75 based on early pinto bean results.
Stable yield readings indicate no new supply shock in US soybeans, so price pressure from this harvest update is limited.
reuters.comKaren BraunOct 3, 2023After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
