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The latest U.S. Drought Monitor says late-maturing crops in the Plains and Midwest will likely escape frost because of continued mild weather. Rain has only slightly eased extreme drought in the Dakotas, and moderate to severe drought persists across much of the western Corn Belt.
Mild weather lowers the risk of late-season crop damage, while lingering drought in the western Corn Belt is a partial offset. Net effect on corn prices is limited at this stage of harvest.
agriculture.comOct 7, 2021After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% 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.
