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DTN analysis of end-of-March Palmer Drought Severity Index data shows the western half of the US remains much drier than the east, with Colorado in extreme drought and North Dakota still facing widespread moderate to severe drought. The chart ranks each top corn and soybean state's March 2022 moisture against 1960-2022 records.
Persistent drought in the western Plains and Corn Belt raises yield risk for the coming crop, but the data alone does not signal a new price driver.
dtnpf.comJoel KarlinApr 21, 2022After 445 past neutral weather events, CORN moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
After 324 past neutral weather events, SOY moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% 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.
