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NOAA's NCEI reported August 2020 was the third-warmest August on record for the contiguous U.S., at 2.6°F above the 20th-century average, with summer ranking fourth warmest. August precipitation was in the driest third of the record, and the report cited a mid-month derecho that damaged Midwest crops.
Heat and dryness during August pressured corn and soybean yield prospects during grain fill, supporting firmer feed grain and meal prices into fall.
ncei.noaa.govSep 8, 2020After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
