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Corteva's summer outlook says El Niño is fading toward neutral through June, with La Niña expected by mid-summer. Models point to a hot, dry risk for the western Corn Belt during July pollination, while May rain has reduced drought areas and slowed planting.
Forecast risk of heat and dryness during July pollination could lift corn and soybean risk premiums, supporting feed grain prices if it materializes.
corteva.comMay 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.
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.
