Crop Tour Results Send Soybean and Corn Futures Soaring

The Pro Farmer Crop Tour has provided mixed results for US soybean and corn yields. In Nebraska, the tour estimated soybean pod counts at 1,219.6 per three-by-three square, down 9.5% from last year's numbers.

In Indiana, the count came to 1,318.6, a decline of 4.2% from a year ago.

Corn yields in Nebraska were estimated at 163.8 bushels per acre, almost 8.9% less than last year's totals.

The tour results have had an impact on futures prices for soybeans and corn, with both assets experiencing gains on Wednesday due to the lower-than-expected yields.