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Drought left western North Dakota corn suppliers with under 8 inches of seasonal rain and about 20 days of 100-degree heat. Ethanol plants are paying more for corn and sourcing it by rail from eastern producers.
Short local corn supply raises corn costs for ethanol plants and can cut ethanol and DDGS output in the region. Tighter corn supply supports corn prices.
agweek.comMikkel PatesOct 4, 2021After 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.
