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World Weather's Drew Lerner told the Sosland Purchasing Seminar that there will not be a drought in the Corn Belt in 2018. He expects the western Corn Belt to be drier and warmer with timely rainfall, and the eastern Corn Belt to be mild with erratic showers.
Expectations of no Corn Belt drought reduce the weather risk premium for corn and soybeans. Ample supply expectations are bearish for feed grain prices.
foodbusinessnews.netRon SterkJun 12, 2018After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% 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.
