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NIDIS reported that drought affects 41% of the Missouri River Basin, with worsening conditions in parts of Kansas, Nebraska, Missouri and Iowa. Sorghum is in very poor condition, corn shows stress, pasture is nearly unusable, and some producers are selling cattle, with a hot, dry August forecast.
Sorghum and corn losses and failing pastures cut feed supplies and push producers to liquidate herds, supporting feed-grain prices and cattle price volatility.
drought.govJul 26, 2022Not enough comparable past events yet for a historical read.
After 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 18 past bearish weather events, Live Cattle moved a median +0.1% over 5 sessions (56% higher; middle half -0.7% to +0.9%), and -0.1% 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.
