USDA’s weekly Crop Progress report showed 81% of corn harvested across 18 major states, five percentage points behind the five-year average, with wet fields delaying fieldwork in Iowa and parts of the northern Plains. Soybean harvest was 92%, one point ahead of average, while Iowa corn harvest lagged its average by 17 points.
Slower harvest can delay corn deliveries to elevators, ethanol plants, and feed mills and extend drying and storage needs, potentially tightening nearby availability and supporting local basis. The report points to a modestly bullish near-term effect for corn, rather than a change in national crop supply.
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.