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A Reuters crop tour report found Iowa corn yield potential weakened after drought and the August derecho. Scouts averaged 162.4 bushels per acre in west-central Iowa and 167.7 in central Iowa, both below last year's and the three-year tour averages.
Nearly 80% of Iowa was abnormally dry as of Aug. 11.
Lower Iowa yield potential tightens the expected U.S. corn supply, which supports corn prices and feed costs for buyers.
reuters.comP.J. HuffstutterAug 19, 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.
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.
