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Heavy rains stalled corn and soybean harvests in the Corn Belt the week of Oct. 8, according to Food Business News.
Harvest was behind the soybean average, and the rain may affect crop quality and lead to lower production estimates in November.
Possible downward production revisions and quality losses support corn and soybean prices and could tighten feed supplies.
foodbusinessnews.netRon SterkOct 16, 2018After 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.
