# Drought spreads in US Corn Belt ahead of July's scorching finish

> The U.S. Drought Monitor showed 59% of U.S. corn under moderate or worse drought as of the latest reading, up from 55% a week earlier. The share in severe or worse drought rose to 23% from 21%.

- Date: 2023-07-31 · published 2023-07-31T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/13260-drought-spreads-in-us-corn-belt-ahead-of-july-s-scorching-finish
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Expanding drought across the Corn Belt raises the risk of lower corn and soybean yields, which tends to support feed grain and meal prices.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-05-26 | [Drought in US Corn Belt reminiscent of both bad and good years](https://feedsoft.ai/events/5564-drought-in-us-corn-belt-reminiscent-of-both-bad-and-good-years.md) | -4.9% | +0.1% |
| CORN | 2022-09-26 | [Percent Drought in US Corn, Bean Areas Highest of Season](https://feedsoft.ai/events/13333-percent-drought-in-us-corn-bean-areas-highest-of-season.md) | -1.4% | +2.6% |
| CORN | 2022-06-20 | [Hot and dry conditions increasing drought concerns in the Corn Belt](https://feedsoft.ai/events/13353-hot-and-dry-conditions-increasing-drought-concerns-in-the-corn-belt.md) | -3.7% | -11.8% |
| CORN | 2022-06-27 | [Hot and Dry Weather Tees Up a Tense July in the US Corn Belt](https://feedsoft.ai/events/13352-hot-and-dry-weather-tees-up-a-tense-july-in-the-us-corn-belt.md) | +1.8% | -12.0% |
| CORN | 2023-06-20 | [Corn, soybean futures up on fears of Corn Belt drought \| Feed Strategy](https://feedsoft.ai/events/9768-corn-soybean-futures-up-on-fears-of-corn-belt-drought-feed-strategy.md) | -1.6% | -13.3% |
| SOY | 2022-09-26 | [Percent Drought in US Corn, Bean Areas Highest of Season](https://feedsoft.ai/events/13333-percent-drought-in-us-corn-bean-areas-highest-of-season.md) | -4.3% | -2.1% |
| SOY | 2025-02-27 | [U.S. Drought Monitor COLORFUL in the Corn Belt heading into March… — AgVenture WSC](https://feedsoft.ai/events/13116-u-s-drought-monitor-colorful-in-the-corn-belt-heading-into-march-agventure-wsc.md) | -2.6% | -2.3% |
| SOY | 2022-06-20 | [Hot and dry conditions increasing drought concerns in the Corn Belt](https://feedsoft.ai/events/13353-hot-and-dry-conditions-increasing-drought-concerns-in-the-corn-belt.md) | -4.2% | -13.2% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/drought-spreads-us-corn-belt-ahead-julys-scorching-finish-2023-07-31/

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