Loading…
DTN's August field roundup reports that a hot, dry August has cut yield prospects in parts of the western and north-central U.S. Heat has tipped back corn ears and left soybean pods small, while many Midwest and southern growers still expect average or above-average crops. Flash drought developed over many crop areas during mid-to-late summer.
Yield losses in key producing areas reduce expected supplies of corn and soybeans, supporting prices for feed ingredients.
dtnpf.comAug 27, 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.
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.
DTN's report of a hot, dry August and flash drought cutting yield prospects added supply-risk premium to soybeans.
