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DTN meteorologists report a flash drought developing in the eastern Corn Belt, with limited rainfall and heat building in the south and east. Heavy rain continues in the northwest, and wet weather is affecting northwestern Europe.
Limited relief is expected for the Black Sea region, where dry conditions persist.
Flash drought in the eastern Corn Belt and dryness in the Black Sea threaten yields of corn, soybeans and wheat, supporting prices for feed grains.
dtnpf.comJun 21, 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.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.
