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Farm Futures analyst Jacqueline Holland says USDA's January reports cut 2020 corn and soybean production and left old-crop stocks tight. Much of the High Plains is in abnormally dry or drought conditions, and spring weather could shift planting between corn and soybeans.
Tight old-crop stocks and dry soils raise the risk of a weak 2021 crop, which supports corn and soybean prices. Acreage shifts between the two crops could also move relative prices.
farmprogress.comJacqueline HollandFeb 8, 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.
