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A record-breaking heat wave hit the central U.S. in mid-June 2022, with Midwest temperatures reaching 90-100°F. NIDIS warned that above-normal temperatures and below-normal rainfall through late June could trigger rapid flash drought intensification across the Midwest.
Hot, dry conditions during crop establishment raise the risk of yield losses for corn and soybeans, supporting higher feed grain and meal prices.
drought.govJun 16, 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.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% 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.
