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Farm Futures' weekly grower survey shows soybean condition ratings fell for a second week to below average, with poor and very poor ratings rising. Corn ratings dropped below average for the first time in a month, as heat hit some areas while excess rain hit others.
Deteriorating crop ratings signal lower expected yields, supporting soybean and corn prices and the cost of soybean meal and feed grains.
farmprogress.comBryce KnorrJul 22, 2019After 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.
After 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 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
