The latest US Drought Monitor shows drought expanding in the Southeast and Midwest, from central Missouri to west-central Ohio, while the Ohio Valley and Mid-Atlantic received beneficial rain. Western US conditions deteriorated.
Officials warn the Midwest expansion could affect the upcoming planting season.
Expanding dryness in key Midwest and Southeast crop areas raises planting and yield risk, supporting feed 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.
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.