Loading…
The Federal Reserve's October 2021 Beige Book reports mixed agricultural conditions across districts. Corn and soybean harvests were larger than expected in the Chicago district, and rising energy prices and logistics problems are adding costs.
Dairy farm margins tightened as feed costs rose.
Larger crops put downward pressure on grain prices, while higher energy and feed costs squeeze livestock and dairy margins. These mixed signals give no clear directional price call.
farmpolicynews.illinois.eduKeith GoodOct 21, 2021After 3,207 past report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.3% to +1.7%), and +0.5% over 20.
After 2,389 past report events, Soybeans moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.9%), and +0.1% 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.
