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The Red River Farm Network crop tour found hot, dry weather hurt northwest Minnesota and North Dakota, but scouts still saw strong corn and soybean potential. A late-August hailstorm wiped out crops near Comstock and Sabin, Minnesota, and stalk rot risk was noted.
Localized hail and dry-weather losses in the northern Corn Belt are a minor offset to strong national yield prospects, so the price effect is small.
rrfn.comDon WickSep 4, 2018After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% 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.
