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ProAg's weekly grower survey shows average corn yields of 163.6 bushels and soybean yields of 43.7 bushels, both several bushels below USDA's August estimates. Growers cite drought in parts of Illinois, excess moisture in Minnesota, cold in South Dakota, and disease problems.
Crop ratings improved slightly and yield estimates were nudged up.
Field yields running below USDA forecasts point to a smaller crop than the government expects, which supports corn and soybean prices. Feed buyers may face firmer grain costs if the gap holds.
proag.comSep 3, 2019After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
