Following is the latest Palmer Drought Index:
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Palmer Drought Index: More Precip Needed Across Corn Belt
Many areas of the Corn Belt are in need of rain to improve soil moisture reserves.
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Corn and soybeans were lower on Thursday seeing further consolidation after hitting chart resistance and with the WASDE on Friday.
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The request allocates $10 billion to row and specialty crop producers for crops planted in 2026, with the remaining $1.1 billion designated for Florida farmers hit by winter storms in late 2025 and early 2026.
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USDA reports on-farm corn stocks up 16% from a year ago, while storage capacity growth has plateaued. Brock’s John Tuttle says commercial handlers are already asking where grain will go when harvest starts — and temporary storage can still be delivered in weeks, not months.
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