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The American Farm Bureau analysis says U.S. corn crop ratings were 71% good-to-excellent in early August, above the five-year average of 68%. Analysts expect corn yields to exceed USDA's 174 bushels per acre projection, based on the historical link between crop ratings and yield deviations.
Expectations of above-trend yields point to larger supplies of corn and soybeans, which typically weighs on feed grain and meal prices.
hpj.comHPJ StaffAug 28, 2018After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% 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.
