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El Niño shaped 2023 precipitation, bringing well above-normal rain to parts of the Plains, with some areas reaching 150% of normal. The Midwest, Ohio Valley and Southeast were drier, with Iowa and Missouri recording the largest deficits.
The uneven distribution of rainfall explains the regional yield variation, but the story is a retrospective weather review with no new supply change.
dtnpf.comBryce AndersonJan 8, 2024After 2,467 past weather events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +1.7%), and +0.6% over 20.
After 1,964 past weather events, Soybeans moved a median +0.1% over 5 sessions (51% higher; middle half -1.7% to +1.8%), and +0.3% 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.
