Abstract
This study examines the impact of extreme climate events on U.S. agricultural commodity markets, specifically corn and soybeans, from 1995 to 2023. Utilizing event study methodology and futures market data, we analyze the effects of storms, floods, and extreme temperatures on returns. Our findings reveal that 22.05% of extreme climate events significantly impact corn returns, and 21.20% affect soybean returns. Extreme temperatures have the most substantial impact on corn, while storms most notably affect soybeans. These results highlight the critical need for adaptive policy frameworks to mitigate the economic impacts of diverse climate events on agricultural markets.