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The US Drought Monitor's national summary for November 12, 2026 reports worsening drought in the lower Mississippi Valley and lower Great Lakes, while heavy rain brought drought improvement to southern and western Texas, the Southern Appalachians, western Great Lakes states and Puerto Rico. The narrative also notes flooding in the Four Corners region after several weeks of substantial rainfall.
Improving moisture in Texas and the Upper Midwest eases stress on winter wheat and pasture, while worsening dryness in the lower Mississippi Valley could affect winter crop establishment there; overall the picture is mixed and unlikely to move grain prices much.
droughtmonitor.unl.eduNov 12, 2026After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% over 20.
After 29 past neutral weather events, Wheat (HRW) moved a median +0.6% over 5 sessions (52% higher; middle half -1.9% to +2.3%), and -0.7% 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.
