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The latest U.S. Drought Monitor shows drought expanding across major farm states, including Minnesota, Missouri, Illinois, Iowa and Wisconsin in the Midwest, and Texas, Oklahoma, Arkansas, Louisiana and Mississippi in the South. Cotton and soybean crops in the South are reported under stress from low soil moisture and extreme heat.
Expanding drought across key corn and soybean states raises the risk to yields and planting prospects, which supports feed grain and oilseed prices.
feedandgrain.comFeed, Grain StaffOct 24, 2024After 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.
Not enough comparable past events yet for a historical read.
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.
