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The US Drought Monitor shows extreme drought reaching parts of the Dakotas and eastern Montana, with drought or abnormally dry conditions scattered across the Plains and Corn Belt. Heavy rains improved conditions in much of the central Midwest, though some areas in Iowa, Ohio and Michigan are drying out.
Drought in the Northern Plains threatens corn and other crops in the region and can tighten feed grain supplies, supporting corn prices.
agupdate.comJun 22, 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.
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.
