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Reuters questions whether the post-crop-tour data points to a corn or soybean yield story. Soybean pod counts on the tour were 8% below average, the second-lowest in the last decade.
Many pods in Minnesota, western Iowa and eastern Nebraska were still flat.
Low pod counts after a dry summer point to smaller soybean supplies, which supports soybean prices. Corn impact is less clear from this piece.
reuters.comKaren BraunAug 29, 2023After 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.
