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The US Crop Tour reached Nebraska and Indiana, where corn yields disappointed after a shift from wet, cold conditions to hot, dry weather. Soybean yields were promising, running above last year's tour figures and the three-year average.
Weak corn yields in key states support higher corn prices, while better soybean yields limit soy upside. Feed buyers face tighter corn supplies.
bloomberg.comKim Chipman, Tarso Veloso, Michael HirtzerAug 23, 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 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% 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.
