Loading…
The U.S. Drought Monitor released May 30 showed Iowa out of drought for the first time since 2020, with 24% of the state still abnormally dry. May is on track to be among the 10 wettest in Iowa's record, after a drought that had covered about 83% of the state in December.
Improved soil moisture in a major corn and soybean state reduces yield risk and supports lower feed grain prices.
desmoinesregister.comDonnelle EllerMay 30, 2024After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% 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.
