Crop tour sees lower soybean estimates due to drought, record heat

After 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.

• Aug 30, 2023Extreme heat, drought take toll on US crops | World Grain-0.0%
• Jan 29, 2025Drought, low prices to drop Mexico’s grain production | World Grain+1.0%
• Jul 13, 2017Strategy Grains lowers EU harvest estimates after heat+0.3%
• Sep 10, 2026Midwest Drought Expands: Heat Wave Threatens Crops | Feed & Grain+4.3%
• Apr 24, 2023Argentina Soybean Crop Smallest in 25 Years Due to Historic Drought - AgWeb-0.7%

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.

• Aug 30, 2023Extreme heat, drought take toll on US crops | World Grain-1.6%
• Sep 6, 2023Drought, record heat threaten US soybean crop at critical growing stage - High Plains Journal-1.3%
• Aug 31, 2023Drought, Record Heat Threaten U.S. Soybean Crop at Critical Growing Stage - CoBank Site - CoBank-2.6%
• Jul 21, 2023Drought drives down Argentina’s soybean outlook | World Grain+2.5%
• Nov 25, 2022Argentine drought, having cut corn, wheat crop hopes, takes aim at soybeans too - Grain Price News-0.4%