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The National Weather Service summer outlook points to a wetter than normal June through August for most of the Midwest, especially the central and eastern Corn Belt. USDA meteorologist Brad Rippey expects temperatures near or slightly above normal, with drier weather possible next month and some moisture deficits in the western Corn Belt.
Wet summer forecasts can raise the risk of planting delays and waterlogging, which supports corn prices. Good moisture can also limit yield risk, so the net effect on prices is mixed.
agri-pulse.comBen NuelleMay 27, 2020After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% 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.
