A huge storm packing winds in excess of 100 miles per hour moved across the US Midwest Monday.
The high winds flattened corn and soybean crops, toppled grain bins, damaged livestock operations and left more than 500,000 people without power.
In the past, such storms have had a devastating local impact, but in many cases crops have been able to stand back up and impact on overall yields was negligible. However, Monday’s storm was massive, came late in the season and hit some crops that had already been dealing with dryness.
Grain futures saw mild support on this news, and in the coming days they will continue to assess the overall crop damage.