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DTN reports record heat across the central U.S. from August 21 to 27, with highs 9 to 15°F above normal in the Western Corn Belt and heat index values above 120°F. It recalls that August heat reduced final USDA corn yields and production compared with the August estimate in 2000 and in one other crop year.
Heat during this period raises the risk of yield losses and a smaller corn crop than the record expected earlier, which supports corn prices.
dtnpf.comBryce AndersonAug 29, 2023After 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.
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.
