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Farm Futures' weekly producer survey found crops had improved in recent weeks but yields remained well below USDA's September 12 projections. Yield reports varied widely, from near-zero corn in some Iowa fields to 225 bushels per acre in others.
Eastern Midwest growers reported harvest problems from a wet spring that turned dry.
Field-level yields running below USDA estimates suggest the official crop numbers may be revised lower, which would support corn and soybean prices.
farmprogress.comBryce Knorr 1Sep 25, 2017After 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.
