NASS estimates show Minnesota corn at a record 195 bushels per acre for 2022, with Wisconsin also at record levels. Nebraska and South Dakota yields were sharply reduced by drought.
Record yields in the Upper Midwest add to corn supply, which is bearish for prices, while drought losses in the Plains offset part of that effect.
After 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 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.