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Iowa State's climate note says the persistent La Niña continues to bring drought to much of the US. Historically, La Niña autumns in Iowa tend to be drier and slightly warmer than average.
Continued dryness in the Corn Belt keeps yield risk in view for next season, but the effect on current prices is limited without a major crop loss.
mesonet.agron.iastate.edudaryl herzmann akrherz@iastate.eduNov 22, 2022After 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.
