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DTN reports that recent storms brought welcome rain to some farms, refilling topsoil in parts of the Plains and Midwest. Other areas, including northern and western growers such as southeast Idaho, saw deepening drought.
Over two-thirds of DTN Farm Advisers reported adequate or plentiful moisture.
Widespread rain eases the crop stress that had supported prices, and the markets have fallen on it. Continued drought in the north and west keeps some supply risk in place.
dtnpf.comEmily UnglesbeeJun 25, 2021After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% 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.
