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Iowa State Extension warns that forecasts call for daytime highs in the 90s and 100s with nighttime lows in the 70s and 80s and little rain across the state. A persistent upper-level ridge over the Midwest is driving the heat, and the blog explains flash drought risk for corn that is tasseling and soybeans.
Heat and dryness during early pollination threaten kernel counts in corn, and dry soybean fields risk lower pod set, which tightens feed grain supply and supports corn, soybean and meal prices.
crops.extension.iastate.eduContent Author: Mark Licht, Justin GlisanJul 15, 2019After 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.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% 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.
