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Chicago July corn settled at $4.17 1/2 after touching a life-of-contract low, and July soybeans fell to a four-month low. Wheat also hit an eight-week low as a stronger dollar and falling equities added pressure.
Forecasts for above-normal rain across the Corn Belt improved production prospects.
Favorable Corn Belt rainfall lifts yield expectations, and a firmer dollar makes U.S. grain less competitive abroad, both of which weigh on export demand and futures prices.
brecorder.comReutersJun 7, 2026After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% over 20.
After 363 past bearish weather events, Soybeans moved a median -0.6% over 5 sessions (42% higher; middle half -2.5% to +1.1%), and -0.2% over 20.
After 334 past bearish weather events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% over 20.
After 15 past bullish weather events, US Dollar (Broad) moved a median +0.1% over 5 sessions (53% higher; middle half -0.3% to +0.2%), and -0.6% 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.
