Corteva says ENSO-neutral tropical Pacific conditions make summer weather outlooks less reliable. DTN's forecast nonetheless shows a hotter and drier than normal June-August between the Rockies and the Mississippi River.
A hot, dry forecast over the Corn Belt raises the risk of yield loss for corn and soybeans, which could support prices if it materializes.
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.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), 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.