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Reuters reported that July rainfall was largely normal across most of the core Corn Belt, but much of it fell early in the month in western states like Iowa, reviving dryness concerns. The question is whether the U.S. corn yield will come in below average.
Renewed dryness in western Corn Belt states raises the risk of a below-trend crop, which would tighten corn supplies and lift feed prices.
reuters.comKaren BraunJul 21, 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.
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.
