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Severe storms with hard rain and wind kept Midwest farmers out of fields in late May, damaging young crops and farm structures in Missouri. Farmers in Kansas were scouting, spraying and top-dressing between rain events, while many fields remain ahead of planting schedules.
Planting delays are limited so far because fields are ahead of schedule, so the price effect is modest, though stand damage from storms is a small upside risk.
farmprogress.comMindy WardMay 31, 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.
After 324 past neutral weather events, SOY moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), 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.
