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USDA-based crop progress shows only 35% of US corn silking and 40% of soybeans blooming as of July 21, the slowest corn pace since 1997 and slowest soybean pace since 1996. Patchy dryness is affecting late-developing crops in the central and eastern Corn Belt.
Slow development and emerging dryness raise yield risk for late crops, supporting corn and soybean prices and the cost of feed ingredients.
brownfieldagnews.comGreg SouljeJul 26, 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.
