Hot and Dry Weather Tees Up a Tense July in the US Corn Belt

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.

• Jun 21, 2021Hot, dry weather stresses crops in heart of the Corn Belt and Northern Plains - Pro Farmer-3.3%
• May 10, 2024Hot and Dry Weather Impacting Safrinha Corn in Brazil+2.4%
• Apr 25, 2024Weather patterns are shifting in Iowa and the Corn Belt+0.7%
• Jun 20, 2022Hot and dry conditions increasing drought concerns in the Corn Belt-3.7%
• May 29, 2018Wheat prices are rising because of the hot and dry weather-3.7%

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.

• Aug 26, 2024Hot and Dry Weather Forecast for Central Brazil's Planting Season+2.0%
• Aug 28, 2023Soybeans at 1-month high, corn firm as hot, dry weather hits US crops - Markets - Business Recorder-1.5%
• Jul 25, 2017Dryness Noted in Western Corn Belt Ratings-2.2%
• Dec 4, 2018Wet Weather in Central Brazil a Cause for Concern-1.0%
• Jan 18, 2019Soybeans Close Higher as Hot Weather Persists in Brazil+0.5%

Not enough comparable past events yet for a historical read.