# US Midwest drought expands, but forecast rains offer relief to crops | Reuters

> The most intense drought since 2012 deepened over the past week across the U.S. Midwest farm belt, reducing soil moisture. It threatens yield potential in the heaviest corn and soybean production areas, though forecast rains offer some relief.

- Date: 2023-06-29 · published 2023-06-29T12:00:00.000Z
- Category: weather · region US · magnitude high
- Page: https://feedsoft.ai/events/13268-us-midwest-drought-expands-but-forecast-rains-offer-relief-to-crops-reuters
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Yield risk in the core Corn Belt supports corn and soybean prices, with forecast rain limiting the upside if it materializes. Lower corn output also tightens feed grain supplies for buyers.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2023-06-29 | 1 | +5.0% | 3.5 | On 6/29 the Midwest drought deepened to its most intense since 2012, threatening soybean yield potential and supporting prices despite forecast rains. |
| CORN | 2023-06-30 | 5 | -9.2% | -3.3 | Forecast rains offered relief to crops despite the deepening drought, reducing the weather risk premium and pushing corn prices lower. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2026-09-10 | [Midwest Drought Expands: Heat Wave Threatens Crops \| Feed & Grain](https://feedsoft.ai/events/12963-midwest-drought-expands-heat-wave-threatens-crops-feed-and-grain.md) | +4.3% | +1.1% |
| CORN | 2026-09-10 | [Drought expands in the lower Midwest - Pro Farmer](https://feedsoft.ai/events/12961-drought-expands-in-the-lower-midwest-pro-farmer.md) | +4.3% | +1.1% |
| CORN | 2019-10-29 | [Midwestern Drought Threatens Crops, Food Prices](https://feedsoft.ai/events/56414-midwestern-drought-threatens-crops-food-prices.md) | +2.7% | +1.1% |
| CORN | 2021-02-22 | [Continued Plains, Western Midwest Drought Expected](https://feedsoft.ai/events/48478-continued-plains-western-midwest-drought-expected.md) | +1.6% | -3.4% |
| CORN | 2024-10-24 | [Drought expands across key US agricultural regions \| Feed & Grain](https://feedsoft.ai/events/13146-drought-expands-across-key-us-agricultural-regions-feed-and-grain.md) | -1.3% | +1.0% |
| SOY | 2026-09-10 | [Midwest Drought Expands: Heat Wave Threatens Crops \| Feed & Grain](https://feedsoft.ai/events/12963-midwest-drought-expands-heat-wave-threatens-crops-feed-and-grain.md) | +1.9% | +0.2% |
| SOY | 2026-09-10 | [Drought expands in the lower Midwest - Pro Farmer](https://feedsoft.ai/events/12961-drought-expands-in-the-lower-midwest-pro-farmer.md) | +1.9% | +0.2% |
| SOY | 2024-10-24 | [Drought expands across key US agricultural regions \| Feed & Grain](https://feedsoft.ai/events/13146-drought-expands-across-key-us-agricultural-regions-feed-and-grain.md) | -2.1% | -0.7% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/us-midwest-drought-expands-forecast-rains-offer-relief-crops-2023-06-29/

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