Loading…
NIDIS reports that drought has persisted across much of the North Central U.S. into late February 2022. Moderate to exceptional drought (D1–D4) covers much of the Great Plains, and moderate to severe drought (D1–D2) affects parts of the upper Midwest.
Low snowpack has damaged winter wheat in Colorado, Nebraska and South Dakota.
Damaged winter wheat and dry Plains soils cut expected hard red winter wheat supplies and support feed grain prices. Tight drought-affected supplies tend to lift corn and wheat values heading into spring planting.
drought.govFeb 24, 2022After 322 past bullish weather events, Wheat (HRW) moved a median -0.1% over 5 sessions (49% higher; middle half -2.5% to +3.2%), and +1.0% over 20.
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.
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.
