# Corn holds near 3-1/2 month peak as crop outlook, demand assessed - Markets - Business Recorder

> Chicago corn held near a 3-1/2 month high on July 2, 2020, as hot weather and the smaller USDA planting estimate raised doubts about harvest prospects. Soybeans reached a new four-month high, while wheat was little changed as northern Hemisphere harvest progressed. Traders noted corn demand remained weak due to lower ethanol consumption during the pandemic.

- Date: 2020-07-02 · published 2020-07-02T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/12776-corn-holds-near-3-1-2-month-peak-as-crop-outlook-demand-assessed-markets
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Weather concerns and smaller acreage support corn and soybean prices, but weak ethanol-driven demand limits the upside. Feed buyers face firm grain costs with sensitivity to crop weather.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2020-07-06 | 5 | -7.1% | -2.8 | On July 2 wheat was little changed while corn and soybeans rallied, and Northern Hemisphere harvest progress capped wheat. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-08-28 | [Soybeans at 1-month high, corn firm as hot, dry weather hits US crops - Markets - Business Recorder](https://feedsoft.ai/events/34585-soybeans-at-1-month-high-corn-firm-as-hot-dry-weather-hits-us-crops-markets.md) | -1.3% | -8.5% |
| CORN | 2025-01-07 | [Chicago corn pulls back from 6-month peak, Argentina dryness caps losses - Markets - Business Recorder](https://feedsoft.ai/events/11502-chicago-corn-pulls-back-from-6-month-peak-argentina-dryness-caps-losses-markets.md) | +3.1% | +4.4% |
| CORN | 2023-02-21 | [Corn near 1-week high on Argentina supply woes, soybeans firm - Markets - Business Recorder](https://feedsoft.ai/events/37347-corn-near-1-week-high-on-argentina-supply-woes-soybeans-firm-markets-business.md) | -4.0% | -5.1% |
| CORN | 2021-03-12 | [Brazil govt concerned about rains disrupting second corn crop - Markets - Business Recorder](https://feedsoft.ai/events/47961-brazil-govt-concerned-about-rains-disrupting-second-corn-crop-markets-business.md) | -9.6% | +2.3% |
| CORN | 2024-05-17 | [Wheat rises on Russian crop woes, but US production outlook limits gains - Markets - Business Recorder](https://feedsoft.ai/events/4593-wheat-rises-on-russian-crop-woes-but-us-production-outlook-limits-gains-markets.md) | +1.2% | +6.0% |
| SOY | 2023-08-28 | [Soybeans at 1-month high, corn firm as hot, dry weather hits US crops - Markets - Business Recorder](https://feedsoft.ai/events/34585-soybeans-at-1-month-high-corn-firm-as-hot-dry-weather-hits-us-crops-markets.md) | -1.8% | -6.0% |
| SOY | 2023-02-21 | [Corn near 1-week high on Argentina supply woes, soybeans firm - Markets - Business Recorder](https://feedsoft.ai/events/37347-corn-near-1-week-high-on-argentina-supply-woes-soybeans-firm-markets-business.md) | -0.6% | -2.7% |
| SOY | 2024-05-17 | [Wheat rises on Russian crop woes, but US production outlook limits gains - Markets - Business Recorder](https://feedsoft.ai/events/4593-wheat-rises-on-russian-crop-woes-but-us-production-outlook-limits-gains-markets.md) | +1.9% | -3.0% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40002451

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