USDA projects record corn and soybean yields for Iowa. A Bayer agronomist says soybeans were strong statewide while corn varied with soil type and rainfall, and heat and dryness hurt some corn.
Up to a third of Iowa's corn was still unharvested.
Strong Iowa soybean yields add to supply, while uneven corn yields leave the outlook mixed. The effect on prices is limited because this reflects a single state's yields already in USDA estimates.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), 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.