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Hot, dry September weather in Oklahoma disrupted soybean development during a key growth stage. Full-season soybeans suffered more than double-crop varieties, and state yields came in below earlier projections.
Analysts had expected a 2% increase before September.
Smaller regional soybean output reduces available supply for crushers and meal producers, supporting soybean and soybean meal prices.
extension.okstate.eduDonald StottsNov 23, 2021After 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.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% 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.
