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Dennis Todey of the USDA Midwest Climate Hub said a warm end to June could lead to hot, dry conditions into July. He noted that corn enters a critical stage next month while soybeans have more time.
Long-range outlooks call for above-normal temperatures into September with normal or below-normal precipitation.
A hot, dry outlook heading into corn's critical pollination window raises weather risk premium for feed grains and supports prices.
hubcityradio.comAbby ChristophersonJun 30, 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, SOY 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.
