Loading…
Michigan Farm News reported that the Lower Peninsula has had hot, dry weather since June 20, with temperatures above 90 degrees for days. Topsoil moisture has fallen sharply, and leaf rolling is appearing in corn and soybeans.
Wheat yields were affected by the heat during grain fill, while quality appears good.
Heat and drought stress in Michigan reduce yield potential for corn and soybeans, and extended dryness could add to losses. Wheat yield reductions in the state are a smaller factor for national prices.
michiganfarmnews.comFarm News MediaJul 8, 2020After 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.
