Excessive rainfall and flooding across Indiana during key corn reproductive stages led to ear rot and yield losses in the hardest-hit areas. Cloudy, wet late-season conditions reduced sunlight and oxygen to roots and developing ears.
Yield losses concentrated in Indiana, a major corn state, tighten the US crop outlook at the margin and could support corn prices if losses prove widespread. The effect is local so far, with no sign of a national shortfall.
After 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.