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A early winter storm with snow and hard freeze hit late-planted crops in the Northern Plains and Upper Midwest, prompting traders to estimate cuts of 100 to 200 million bushels to the corn crop and 30 to 40 million to soybeans. Prices also rose on optimism over US-China trade talks and Brexit prospects.
Estimated crop losses tighten US corn and soybean supplies, supporting higher feed grain and meal prices.
feedandgrain.comNov 30, 2020After 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.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.
