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U.S. corn prices came under pressure in May amid predictions for a record crop. A widespread dry stretch expected over the next two weeks added back some weather premium, with drought already present in parts of the Corn Belt.
Dryness during the pollination-critical window can cut yield expectations and lift corn futures, partly offsetting bearish record-crop projections.
reuters.comKaren BraunMay 26, 2023After 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.
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.
