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Climate Impact Company flags soil-moisture deficits in key crop areas, including Canadian and US spring wheat, the northern US Corn Belt and the southwest Plains wheat zone. It also reports a major Brazilian drought affecting the second corn crop, wheat and soybeans.
Drought exposure across major North American and Brazilian crop areas tightens expected supplies of corn, wheat and soybeans, supporting prices. Brazil's second-crop corn shortfall is especially relevant to feed buyers who rely on export supply.
climateimpactcompany.comScott YuknisMay 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.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
After 1,079 past bullish weather events, Soybeans 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.
