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MinnStar Bank analyst Kent Thiesse explains replant decisions after heavy June rain caused standing water and drowned-out fields in southern Minnesota and northern Iowa. Corn planted June 5-10 has only about 50-60% of expected yield potential.
Late-planted soybeans face reduced yields, with mid-June expectations of 30-40 bushels per acre versus normal 50 or more.
Flooding-related losses and lower yield potential on late plantings tighten supply at the margin, a modestly supportive factor for corn and soybean prices.
farmprogress.comKent ThiesseJun 15, 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, Soybeans 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.
