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A record October blizzard and freeze in Oct. 7-13 damaged immature corn and soybeans in North Dakota and Nebraska, and crop ratings fell in several states.
Corn maturity is about two weeks behind normal and the harvest is 10-15 days behind, with more storms forecast for the central US.
Late maturity and frost or snow losses reduce yields and delay harvest, which tightens supplies and supports corn and soybean prices.
dtnpf.comMike PalmerinoOct 16, 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.
