
Midwest drought conditions improved considerably by mid-January 2025, with only 1% of Iowa in severe drought versus 16% three months earlier, and Illinois with no severe drought. Soil moisture remains the primary concern for the 2025 crop year.
Improved moisture lowers the risk to 2025 Midwest crops, easing weather premium in corn and soybean prices.
After 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, Soybeans 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.