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A large spring storm system was forecast to bring heavy snow, blizzard conditions, freezing rain and strong winds to the central US, followed by arctic air. The Northern Plains, including livestock, wheat, corn and soybean areas, faced cold and snow over much of the following week.
Severe cold and snow can stress livestock and delay field work for spring planting, but the effect on grain and cattle prices is usually modest unless losses are widespread.
dtnpf.comJohn BaranickMar 19, 2024After 1,964 past weather events, SOY moved a median +0.1% over 5 sessions (51% higher; middle half -1.7% to +1.8%), and +0.3% over 20.
After 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 639 past weather events, SBM moved a median +0.0% over 5 sessions (51% higher; middle half -1.9% to +2.3%), and -0.0% 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.
