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World Weather, Inc. forecasts a generally favorable spring weather pattern for much of the US from the Plains into the Midwest, with timely rain expected in the heart of the Midwest. Dryness is expected to return in the northern Plains and southern Canadian Prairies during July and August.
A favorable spring with summer dryness risk for the northern Plains and Prairies suggests possible late-season weather premium for wheat and corn, though near-term supply conditions look adequate.
world-grain.comDrew LernerMar 12, 2021After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% over 20.
After 29 past neutral weather events, Wheat (HRW) moved a median +0.6% over 5 sessions (52% higher; middle half -1.9% to +2.3%), and -0.7% 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.
