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The Drought.gov special update covers the North American Monsoon and the expected shift to La Niña. It says June rainfall in the Four Corners and parts of Nevada was relatively wet, but forecasts point to a mediocre monsoon end and drier conditions through fall in the Intermountain West and California-Nevada.
Drier conditions in the Southwest US affect rangeland and water supply for livestock. The impact on feed grain supply is limited because the region is small in national crop output.
drought.govJul 16, 2024After 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, SOY moved a median +0.1% over 5 sessions (51% higher; middle half -1.7% to +1.8%), and +0.3% over 20.
After 1,773 past weather events, WHEAT moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +2.1%), and +0.2% over 20.
After 361 past weather events, PALMOIL moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +1.3%), 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.
