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The GEOGLAM Crop Monitor for AMIS reports mixed conditions for wheat, maize, rice and soybeans as of October 28. Dryness affects winter wheat in Australia and Argentina, and poor soybean outcomes are expected in parts of Nigeria, Romania, Ukraine and the US.
Maize prospects improved in the northern hemisphere.
Poor soybean yields in several exporters and dryness in Argentina and Australia tighten near-term supply expectations for oilseeds and wheat. Improved northern maize prospects offset some of that pressure on corn.
cropmonitor.orgNov 2, 2023After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 50 past neutral report events, Rough Rice moved a median -0.0% over 5 sessions (50% higher; middle half -1.9% to +1.5%), and -1.2% 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.
