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AccuWeather analysis projects US 2019 corn production at 13.6 billion bushels, about 9% below the USDA's 14.96 billion estimate. It also forecasts soybeans at 4.0 billion bushels, roughly 4% under USDA's first estimate, citing continued flooding and wet weather in the Corn Belt.
A private forecast well below USDA's numbers signals tighter US corn and soybean supplies, which supports feed grain and soymeal prices and raises feed costs for buyers.
accuweather.comJohn RoachMay 31, 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.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% 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.
