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How will weekend weather events impact yields, total production?

Corn and soybean markets were narrowly mixed this morning as analysts tried to assess crop damage that may result from this weekend’s snowstorm over the Northern Plains and hard freeze over much of the Midwest.

Market analyst Arlan Suderman with INTL FCStone says yields will no doubt be impacted.

“Academic data (on freeze damage) would suggest we could be looking at several hundred million bushels of corn loss. But what will reality be?,” Suderman says. “I think it’s going to be more substantial than what the trade currently thinks, but we simply don’t have data to back that up.”

The storm dropped up to two feet of snow in portions of North Dakota with up to eight inches reported in South Dakota. A hard freeze also ended the growing season in much of the Western Corn Belt.