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Palmer Drought Severity Index maps show March 2024 drier across the western and southern Midwest and the Central Plains than in the 2010 and 2020 analog years, when soils were saturated. The article frames the spring as a transition from El Niño to La Niña.
Drier soils in the central US increase planting-season weather risk for corn and soybeans, which can add modest upward price support if dryness persists.
dtnpf.comBryce AndersonApr 11, 2024After 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.
