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Weekly crop progress showed corn at 61% good to excellent, with harvest 15% complete, and soybeans at 64% good to excellent with harvest 20% complete. Brazil's central region received less than 25% of average September rainfall, though early soybean planting has not yet been affected.
Faster soybean harvest adds near-term harvest pressure on prices, while Brazilian dryness is a watch item for the next South American crop.
feedandgrain.comKevin McNewDec 3, 2020After 788 past bearish report events, SOY moved a median -0.3% over 5 sessions (47% higher; middle half -2.0% to +1.5%), and -0.9% over 20.
After 770 past neutral report events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
