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Severe August thunderstorms with high winds and heavy rain flattened corn and tangled soybeans across northeast Iowa and the upper Midwest, damaging buildings and flooding fields. The storms are likely to reduce yields and complicate harvest in affected areas.
Lodging and flooding losses add to the drought-related yield shortfall, supporting corn and soybean prices. Harvest delays from wet fields can also slow deliveries.
dtnpf.comMatthew WildeAug 31, 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.
After 1,079 past bullish weather events, SOY 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.
