
Drought has spread across the Mississippi Basin, including the Ohio and lower Missouri basins, lowering river levels and restricting shipping. Drought now extends from Texas to Michigan.
The dryness may persist for another couple of months.
Prolonged drought keeps barge restrictions in place through the harvest, raising freight costs and reducing Gulf export competitiveness for grain.
Not enough comparable past events yet for a historical read.
After 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.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% 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.