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A Missouri grain elevator manager says ongoing drought has cut local corn yields to about half of normal in some areas, prompting an ethanol plant to draw corn inland at premiums of up to 60 cents over river elevators. Nearly 60% of Missouri is in moderate to extreme drought, and harvest is about halfway complete.
Drought-driven yield losses in central Missouri tighten local corn supply and lift regional cash bids, supporting corn prices for feed buyers in the Midwest.
brownfieldagnews.comCarah HartOct 13, 2023After 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.
Not enough comparable past events yet for a historical read.
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.
