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A climatologist with the National Drought Mitigation Center says parts of the Midwest from Ohio to eastern Iowa and northeast Missouri show potential for drought development over the next three months. Upper Midwest farmers have dealt with devastating rains while other areas are abnormally dry.
Several corn and soybean states are in better shape than last year.
Potential drought development in the eastern Corn Belt is a risk worth monitoring, but current conditions in many states are better than last year, so the price impact is limited for now.
brownfieldagnews.comBrent BarnettJun 24, 2024After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% 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.
