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DTN's senior ag meteorologist says its harvest forecast calls for a normal or average first-freeze date in many Midwest regions, easing early-freeze concerns. He warns that a freeze in the last 10 days of September would damage crops in areas where development is behind, and an October frost is likely in the southern and eastern Corn Belt where planting was very late.
NOAA forecasts below-normal harvest temperatures and above-average precipitation for the north and central Midwest.
Late planting combined with a possible early freeze threatens yields and supports corn and soybean prices, but DTN's more benign freeze outlook limits the upside. Wet harvest conditions could also delay field work and add to logistics strain.
proag.comAug 22, 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.
