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Warm, mostly dry weather across the Corn Belt is favorable for crop development where moisture is adequate, but topsoil shortages are present in Missouri and Michigan. Sorghum and cotton in Texas are rated poor, and drought is affecting pastures.
Tropical Storm Chris remained offshore of the Carolinas.
Mostly favorable Corn Belt weather is mildly bearish for grain prices, but Texas sorghum stress and dry spots add some support for feed grain prices.
brownfieldagnews.comGreg SouljeJul 11, 2018After 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.
Not enough comparable past events yet for a historical read.
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.
