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An extreme heat wave is spreading across US farm states including Oklahoma, Kansas, Nebraska, Missouri, Iowa and Illinois, with temperatures expected above 100 degrees. The heat follows earlier floods that destroyed acreage and delayed planting.
Heat stress during the critical growing period, after flood-related planting losses, raises the risk of lower corn and soybean yields and supports feed grain prices.
cnbc.comEmma NewburgerJul 20, 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 18 past bearish weather events, Live Cattle moved a median +0.1% over 5 sessions (56% higher; middle half -0.7% to +0.9%), and -0.1% 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.
