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The Illinois State Climatologist reports that January 2022 was colder and drier than normal. The statewide average temperature was 5.6 degrees below the 1991–2020 average, and precipitation was 1.14 inches below average.
Chicago recorded its coldest January since 2014.
Dry, cold conditions over winter do little to change near-term crop supply. Soil moisture effects matter mainly if dryness continues into spring.
stateclimatologist.web.illinois.eduFeb 1, 2022After 2,467 past weather events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +1.7%), and +0.6% over 20.
After 1,964 past weather events, Soybeans moved a median +0.1% over 5 sessions (51% higher; middle half -1.7% to +1.8%), and +0.3% 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.
