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Compeer Financial's Glenn Wachtler says a decent Midwest snowpack has eased some drought concerns but not the longer-term dryness. He notes the Western Corn Belt is especially dry and soil moisture is below what is needed, with La Nina conditions raising the risk of spring dry patterns.
Dry soils heading into spring raise the risk of planting delays and yield losses for corn. Weather risk could keep corn futures supported during the growing season.
brownfieldagnews.comMark DorenkampFeb 23, 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.
