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The US Drought Monitor showed drought improving in Iowa, with several southwest counties now free of drought and most of the state abnormally dry. Illinois and the wider Corn Belt also saw relief as rain fell in the week before planting.
Easing dryness lowers the near-term risk to planting and yield prospects, which modestly weighs on corn prices and feed costs.
agriculture.comMar 25, 2022After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), 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.
