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Midwestern farmers report that winter snow has eased drought conditions, but the Great Plains remains in drought under the latest Drought Monitor. Growers say substantial relief may not come until spring rains in April and May.
Uncertain spring moisture keeps planting and yield risk in play, which can add modest support to corn and soybean prices.
brownfieldagnews.comMar 15, 2023After 445 past neutral weather events, CORN moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
After 324 past neutral weather events, SOY moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% 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.
