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Nutrien Ag Solutions' meteorologist says the 2021 drought through February is unlike any seen in 20 years. The Northern Plains, including North Dakota, had a dry winter with limited snow cover, adding drought stress to the region's wheat and crops.
Dry Northern Plains conditions raise the risk of lower spring wheat and corn output, which would tighten feed grain supplies and support prices.
agweb.comMargy EckelkampApr 15, 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.
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.
