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DTN meteorologist Bryce Anderson reported that most central US crop areas had under 50% of normal precipitation over the prior 30 days through June 27. A tropical system brought heavy rain to the eastern Corn Belt, but much of the western and central areas stayed dry.
Forecasts show rain concentrated in a narrow arc, with drier conditions outside it.
Widespread dryness across the central Corn Belt raises the risk of yield losses in corn and soybeans, which supports prices for feed grains and meal.
dtnpf.comBryce AndersonJun 29, 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.
