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Resources for the Future researchers estimated the economic cost of drought to US agriculture, with average annual losses of $10 to $14 billion in 2018 dollars. The analysis quantifies crop yield losses from an additional week of drought per year.
The study is a long-term analytical piece on drought costs and climate risk, with no immediate supply change for feed markets.
resources.orgYusuke KuwayamaMar 13, 2019After 2,467 past weather events, CORN moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +1.7%), and +0.6% over 20.
After 1,964 past weather events, SOY moved a median +0.1% over 5 sessions (51% higher; middle half -1.7% to +1.8%), and +0.3% 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.
