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A Federal Reserve Bank of Kansas City symposium paper by Wolfram Schlenker examined corn yields from 1980 to 2019. It found that extreme heat and ozone pollution have caused yield losses of more than 20% in some years.
The findings highlight that heat stress is a persistent yield risk for corn, which can support prices over the long run, though the study gives no immediate supply signal.
kansascityfed.orgMay 11, 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.
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.
