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University of Illinois economist Scott Irwin says USDA weekly corn and soybean condition ratings are useful for projecting yields. He says forecasts become more reliable from mid-June onward.
Condition ratings are an early yield signal that traders will watch more closely as the season progresses, but this commentary alone does not move prices.
brownfieldagnews.comTom SteeverMay 26, 2017After 3,207 past report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.3% to +1.7%), and +0.5% over 20.
After 2,389 past report events, Soybeans moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.9%), and +0.1% 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.
