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Farmers in Nebraska and surrounding areas said drought in the Central Plains could hurt early crop development. The latest Drought Monitor showed pockets of extreme dryness developing in central Nebraska and Kansas, with drought also expanding in Iowa, Minnesota, Wisconsin and Michigan.
Dryness during planting raises the risk of lower corn and soybean output, which tends to support prices and increase feed costs.
brownfieldagnews.comMar 17, 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.
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.
