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The Federal Reserve's July 2019 Beige Book reported mixed agricultural conditions across districts. The Atlanta district saw mostly normal crop planting, while the Chicago district reported severe wet-weather planting delays, with some farmers forced to file insurance claims and plant cover crops instead of corn and soybeans.
Late planting and expected lower fall yields tighten corn and soybean supply, supporting prices for feed grains and soybean meal.
farmpolicynews.illinois.eduKeith GoodJul 1, 2019After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
