# UT Crop Market Update 6/23/2016 | UT Crops News

> September corn futures dropped about $0.48 and November soybean futures about $0.39 since the Monday open, as Midwest forecasts improved and talk of La Niña faded. Traders also cut long positions ahead of the UK referendum on leaving the European Union, and a Brexit vote was expected to strengthen the US dollar.

- Date: 2016-06-23 · published 2016-06-23T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/10241-ut-crop-market-update-6-23-2016-ut-crops-news
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Better crop weather removes the weather premium from corn and soybeans, lowering prices. A stronger dollar from a Brexit outcome would make US grain exports less competitive abroad, adding further downward pressure.

## Read by commodity

- DXY: bullish ▲
- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2018-06-08 | [Tennessee Market Highlights \| UT Crops News](https://feedsoft.ai/events/8250-tennessee-market-highlights-ut-crops-news.md) | -3.0% | -4.0% |
| CORN | 2016-06-24 | [Tennessee Market Highlights \| UT Crops News](https://feedsoft.ai/events/9747-tennessee-market-highlights-ut-crops-news.md) | -4.9% | -5.4% |
| CORN | 2019-04-01 | [March 2019 El Niño Update: Think spring](https://feedsoft.ai/events/60008-march-2019-el-nino-update-think-spring.md) | +0.2% | -2.9% |
| CORN | 2021-05-13 | [El Niño/La Niña Update (May 2021)](https://feedsoft.ai/events/46985-el-nino-la-nina-update-may-2021.md) | -7.7% | -2.2% |
| CORN | 2021-06-18 | [Farming News - Wheat & Oilseed market update from ADM - UK wheat conditions continue to improve](https://feedsoft.ai/events/7307-farming-news-wheat-and-oilseed-market-update-from-adm-uk-wheat-conditions.md) | +0.3% | -5.2% |
| SOY | 2016-06-24 | [Tennessee Market Highlights \| UT Crops News](https://feedsoft.ai/events/9747-tennessee-market-highlights-ut-crops-news.md) | +4.5% | -10.5% |
| SOY | 2018-06-08 | [Tennessee Market Highlights \| UT Crops News](https://feedsoft.ai/events/8250-tennessee-market-highlights-ut-crops-news.md) | -4.8% | -10.3% |
| SOY | 2018-09-27 | [Brazil crop update - Morning Ag Clips](https://feedsoft.ai/events/62863-brazil-crop-update-morning-ag-clips.md) | +1.4% | +0.0% |

## Sources

- news.utcrops.com: https://news.utcrops.com/2016/06/ut-crop-market-update-6232016/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.