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September 2017 precipitation was well below normal across much of the top corn and soybean states, with Louisiana and Missouri posting their driest Septembers since 1960. Arkansas, Illinois and Michigan were among the driest third-ranked Septembers, and moderate to extreme drought has emerged in Illinois and Iowa.
Dryness in core Corn Belt states raises concern about yield and soil moisture heading into the 2017/18 marketing year, supporting corn and soybean prices modestly.
dtnpf.comJoel KarlinOct 11, 2017After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% 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.
