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A Missouri farmer column notes that drought monitor coverage has expanded across Missouri, southern Iowa and about half of Indiana and Illinois as of early March. Soil is at maximum water-holding capacity, and the author suggests that drought in the heart of the Corn Belt could lift crop prices.
Expanding drought in core Corn Belt states is a possible bullish factor for corn and soybeans if dryness persists into planting season.
kdhlradio.comJerry GroskreutzMar 3, 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.
