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A Reuters piece questions whether 181 bushels per acre is a reasonable trend yield for US corn. It also notes recent weight on soybean yields from poor weather in North Dakota, which had its worst soybean yield in 17 years due to drought.
A lower corn trend yield would tighten supply expectations, while weak soybean yields in North Dakota reduce soybean supply and support soybean meal and oil prices.
reuters.comKaren BraunMay 11, 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, SOY 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.
