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Michigan's corn and soybean crops are expected to be the smallest in over a decade, according to NASS. Projected corn output is 263 million bushels, the lowest in 15 years, and soybeans total 72.2 million bushels, the worst in 11 years.
State-level yield shortfalls add to a national crop reduced by wet weather, supporting corn and soybean prices. Michigan's share of total output is small, so the national price effect is limited.
mlive.comJustine LoftonDec 3, 2019After 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.
