Drought grew across the southern U.S. while heavy rain and flooding hit parts of the Midwest. Dryness was reported in Australia, and planting conditions were good in Brazil but not in Argentina.
Crops in the northern Midwest are maturing faster than normal, so late rain has limited yield impact.
Southern drought and dryness in Australia and Argentina could tighten world supply, while the late Midwest rains have little yield benefit, supporting grain 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 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.