
Hot, somewhat dry July and August weather covered most key U.S. corn and soybean states, with Colorado posting its hottest July-August on record and the U.S. as a whole recording its hottest average reading. Delta states and several Plains states received well below normal precipitation.
Corn and soybean yields are running below trend for the U.S. and many key states.
Yield shortfalls from heat and dryness tighten U.S. corn and soybean supplies, supporting feed grain and meal prices.
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.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% 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.