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Iowa is mostly in moderate drought, with extreme drought in western and southeastern areas. Agronomists report corn stress in west-central Iowa while southwest Iowa crops are faring well, and soybeans are expected to be less affected until July and August.
Corn stress in a major producing state adds to yield risk, supporting corn prices. Soybeans face greater risk later in July and August, which could support soybean prices if dryness continues.
iasoybeans.comIowa Soybean AssociationJun 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.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), 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.
