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Reuters' Crop Watch found that dry late-August weather and disease pressure may have limited soybean yields in western states, while recent eastern rains improved prospects in North Dakota, Indiana and Ohio. Kansas corn results were very disappointing after central Kansas had its driest August in over 20 years.
Yield cuts in western soybean areas and poor Kansas corn results reduce expected supply, which supports corn and soybean prices.
financialpost.comReutersSep 6, 2022After 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 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.
