A Michigan farmer said growing-season flash drought kept yields below average on some fields, although her overall crop results were about average. More than 60% of the state is in drought, and farmers are concerned about moisture for winter wheat establishment; corn harvest is 61% complete and soybean harvest is 86% complete.
Dry conditions may constrain local corn and soybean output and impair winter wheat establishment, lending modest support to prices if the effects are widespread. The reported impact is regional, with much of the harvest already completed.
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.
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 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.