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Illinois Public Media commentary notes that much of the U.S., from Texas to Illinois, was dry in January 2018. Historical analysis shows that dry conditions in January often ease with spring rains.
The author calls the dryness not a significant concern for markets at present.
Early-season dryness has historically had little bearing on the eventual crop, so it is unlikely to lift corn prices now.
will.illinois.eduTodd E. GleasonJan 21, 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.
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.
