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Drought in North and South Dakota, which together grow about 7.5% of US corn and 10% of US soybeans, could cut national output. Most of North Dakota and 78% of South Dakota were in drought as planting began.
A poor crop in these states could lower US corn and soybean supplies below expectations, supporting feed grain and soymeal prices.
agriculture.comChuck AbbottApr 13, 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, 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.
