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AgWeb reports that corn and soybean conditions continued to decline, with corn at 69% good to excellent and soybeans down to 67%. Some growers face drought while others in Iowa and South Dakota report severe flooding.
June has been among the wettest on record in the Upper Midwest and among the driest in the Ohio Valley and Mid-Atlantic.
Uneven extremes of flood and drought in key growing areas increase the risk of yield losses for corn and soybeans, supporting feed grain and meal prices.
agweb.comJun 25, 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.
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.
