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ADM's weekly update says US corn and soybean yield expectations fell after another week of little rain across much of the corn belt. US prices rose $7/t on the week.
EU wheat prices also rose slightly, and the EU monitoring unit cut its maize yield estimate to 8.01 t/ha.
Lower US corn and soybean yield expectations tighten supplies and support feed prices in the near term. The EU maize cut adds to global corn tightness.
farming.co.ukAug 28, 2020After 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.
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 1,465 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.
