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DTN reports very dry conditions in the western and southern Corn Belt while the eastern Corn Belt is very wet. Pollinating corn and soybean ratings fell 3 to 4 points in Nebraska and Iowa, and Des Moines hit 101 F on July 14.
Yield losses in Nebraska and Iowa, two major corn and soy producers, support corn and soybean prices. Feed costs would rise if the stress persists, though forecast rain could ease it.
dtnpf.comMike PalmerinoJul 25, 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.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% 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.
