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Illinois corn reached 50% planted about a month later than the five-year average, and soybeans trailed by more than three weeks. July crop condition ratings are only about 40% good to excellent versus roughly 70% in prior years, though warm weather has helped crops recover in most fields.
Poor condition ratings and late planting cut expected yields in a major producing state, which supports corn and soybean futures and feed costs for buyers.
farmdoc.illinois.eduEmerson NafzigerJul 19, 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.
