
A heat wave swept the Northern and Central Plains last week, with Dakota temperatures near century highs and scarce rainfall in the Western and Eastern Corn Belt. NASA data shows extremely below-normal soil moisture across the Dakotas, Nebraska, Minnesota, western Iowa and Wisconsin, and crop conditions declined by a couple of percentage points.
Dry soil in key Corn Belt states raises the risk of reduced corn and soybean yields, which would tighten feed grain supplies and support corn, soybean meal and DDGS prices if dryness persists.
After 1,469 past bullish weather events, Corn moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.8%), 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.