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An Agriculture.com article cites a Weathertrends360 forecast that dry conditions will expand to about 50% of the US in 2020 and become drier in 2021 after seven wet years. It links the shift to a moderate La Niña forming in the Pacific and says 35% of the US was already in dry conditions by late May.
A forecast drier US growing season would raise weather risk premiums for corn and soybeans, though the source is a private long-range model rather than an official outlook.
agriculture.comWeathertrends360Jul 7, 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.
