Loading…
Pro Farmer released 2022 US crop estimates after its 30th annual Crop Tour, projecting corn at 13.759 billion bushels and 168.1 bu/acre, well below USDA's 175.4. Soybeans were estimated at 4.535 billion bushels and 51.7 bu/acre, down slightly from USDA's 51.9.
Dryness in Nebraska, western Iowa and South Dakota was cited.
A substantially smaller corn crop than USDA expects supports corn and feed prices, while the slightly lower soybean estimate is mildly supportive for soy and meal.
farmjournal.comFarm JournalAug 26, 2022After 1,040 past bullish report events, CORN moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 747 past bullish report events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
