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Bloomberg describes this summer's weather pattern: heat in the West, drought in the upper Great Plains, and a dry southern Corn Belt. States to the north and east are wet after May rains delayed planting or forced replanting.
Uneven moisture across the Corn Belt creates yield risk in both dry and wet areas, supporting corn and soybean prices. The mixed pattern limits how much any single region can move the national crop.
bloomberg.comBrian K Sullivan, Jeff WilsonJul 26, 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.
