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Much of the Midwest and Great Plains was in moderate to severe drought in early March 2024, with extreme drought in northeast Iowa. Dry conditions along the upper Mississippi from Minnesota to Missouri were raising concerns for the coming planting season, and warm weather was increasing soil moisture loss.
Dryness across the corn belt raises the risk of a poor crop, which supports corn prices. Low river levels on the upper Mississippi could also push up barge freight costs.
nebraskapublicmedia.orgKate Grumke, Harvest Public MediaMar 11, 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.
Not enough comparable past events yet for a historical read.
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.
