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DTN analysis says that as of early January 2018, drought covered 28% of the continental U.S., roughly double the level three months earlier. The article compares drought ratings with corn, soybean and wheat yield deviations from trend.
It notes that large global supplies have kept prices near lows.
Drought concerns for U.S. winter wheat could support prices, but ample stocks limit any rally in feed grains and oilseeds.
dtnpf.comJoel KarlinJan 10, 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.
After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% over 20.
After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
