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Iowa farmers are cautious about selling into higher prices as drought deepens during planting. Corn for October delivery was near $6 a bushel and soybeans were around $13, roughly double recent years.
Some growers said they were unsure how much they would harvest.
Uncertainty over yields under dry conditions supports corn and soybean prices, while farmer caution may slow sales and keep nearby supplies tight.
progress-index.comMay 7, 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, SOY 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.
