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Western Corn Belt producers reported further yield cuts after a dry week, with the Crop Watch corn yield score falling to 3.82 and soybeans to 3.59, the lowest of the season. Rain chances later in the week could help soybean prospects.
Continued dryness in the western Corn Belt reduces expected output for corn and soybeans, supporting prices, though forecast rain may cap gains.
reuters.comKaren BraunAug 16, 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.
