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Drought in the Northern Plains is reducing soybean yield potential. The article suggests the market may react differently to soybeans than to other crops, with the drought limiting the upside in yields.
A drought-driven cut in soybean yield potential tightens supply and supports soybean prices, particularly with U.S. stocks already low.
agupdate.comMark ConlonJul 26, 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.
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.
