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AFBF market intelligence director John Newton says US corn yield could finish 5-6% below the trend of about 166 bu/acre, with many in the trade discussing a national yield near 165. He expects prices to stay range-bound until USDA's August 10 crop production report.
Planting problems and summer weather are cited as causes.
A yield near 165 bu/acre would tighten US corn supply and could lift feed prices, but the outcome depends on the August USDA report.
farmweeknow.comDaniel GrantJul 27, 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 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.
