Historic October and November rainfall has revived fallowed and dry farmland at Caywood Farms in southern Arizona and raised water levels at Coolidge Dam from about 100 acre-feet to 170,000 acre-feet. Water deliveries to the farm's canals are expected to resume from the Gila River in a few weeks, the first since March.
The rain has also made cotton wet and washed off defoliant, delaying harvest sales.
Improved water supply in southern Arizona may add some local forage and cotton supply after a drought-driven fallowing, but the effect on national feed prices is limited. Rain-delayed cotton grading could slightly tighten near-term cottonseed availability.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.