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DTN reviews how record heat and dryness could affect the US corn and soybean markets. Corn is rated 65% good to excellent, and a crop of no more than 15 billion bushels looks likely.
Analysts say China's strong domestic corn prices and Brazil's lower output could again lift export demand.
A smaller US corn crop and a possible rise in Chinese demand would reduce ending stocks and support cash corn prices at harvest, raising feed costs.
dtn.comDave CastoJul 23, 2021After 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, Soybeans 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.
