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Farmers in the Upper Midwest report strong soybean prospects, while northwestern Missouri counties are in serious drought, with corn chopped for livestock forage in Ray County. Harvest outcomes are described as dependent on August weather.
Drought in Missouri is localized, but uncertainty about August weather keeps some upside risk in corn and soybean prices for feed buyers.
brownfieldagnews.comTom SteeverJul 30, 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 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.
