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Harvest Public Media reports that drought has deepened across the Midwest and Great Plains, even in areas that had excessive spring rain. Missouri and Iowa fields that started wet are now baking, with the drought spreading east through the summer.
Widespread late-season drought reduces yield potential in the western and central Corn Belt, supporting corn and soybean prices and feed costs.
kcur.orgElizabeth Rembert, Harvest Public MediaOct 6, 2022After 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.
