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Expectations for US corn and soybean yields have deteriorated as planting delays spread across the Corn Belt, especially in the eastern states. About 51% of corn in the 18 major states was planted after May 25, versus a 16.8% average.
Crop condition ratings are set to show one of the worst starts on record.
Late planting lowers expected yield potential, which points to tighter corn and soybean supplies and firmer feed grain prices. The June WASDE is expected to reflect lower yields.
proag.comJun 11, 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, SOY 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.
