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The US Drought Monitor showed little overall change month over month, but drought coverage shrank in corn and soybean growing areas after extensive rain. USDA meteorologist Brad Rippey reviewed drought coverage for crop areas for the period ending April 1.
Reduced drought in the main corn and soybean belt lowers yield-risk premium and supports a bearish tilt for feed grains and meal.
agnetwest.comDanApr 8, 2025After 357 past bearish weather events, CORN moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
After 363 past bearish weather events, SOY moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% 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.
