
Record September rainfall stalled harvest from Nebraska to Ohio, with Lincoln, Nebraska setting a daily precipitation record of 10.4 inches. Iowa recorded its wettest September on record, and some areas of the Corn Belt received more than 30 inches of combined August and September rain.
Nutrien's Eric Snodgrass says the El Niño pattern is still strengthening and has not yet peaked.
Excess rain delays harvest, raises quality risks and may reduce yields in key Corn Belt states, supporting corn and soybean prices. The strengthening El Niño adds uncertainty for the winter outlook.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), 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.