Loading…
USDA's weekly Crop Progress report showed U.S. corn condition ratings rising 3 points to 72% good to excellent for the week ending July 26, above analysts' expectations of 69% to 71%. Silking reached 82% complete, 7 points ahead of the five-year average.
Farmers reported heat stress and wind concerns, and soil moisture remained low in parts of the Plains and Minnesota.
Strong crop ratings point to a larger supply outlook, which adds pressure to corn prices. Dry pockets and heat during pollination are the main risk that could limit yield potential.
proag.comJul 29, 2020After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% 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.
