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Hot, dry forecasts for August in key soybean areas coincided with pollination, trimming yield potential and pushing markets higher. Soybeans rose more than $2 for the week, with support spilling into corn.
Spring wheat tour yield estimates were also strong.
Trimmed soybean yield potential and tight global supplies lift soybean and corn prices, raising feed input costs.
agweek.comJenny SchlechtJul 29, 2022After 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.
After 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.
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.
