# From too wet, to too dry, weather takes control of market direction - Agweek | #1 source for agriculture news, farming, markets

> Agweek's May 26, 2023 market wrap says July corn traded higher every session that week on weather forecasts and old-crop supply concerns. Dry heat is spreading from the northern Plains into the Corn Belt, and Omaha has received only a quarter inch of May rain against a normal 3 to 3.5 inches.

- Date: 2023-05-26 · published 2023-05-26T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/13280-from-too-wet-to-too-dry-weather-takes-control-of-market-direction-agweek-1
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Expanding dryness and tight old-crop supplies support nearby corn futures and the feed grain complex.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2019-05-19 | [Markets finally respond to wet weather - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/5629-markets-finally-respond-to-wet-weather-agweek-1-source-for-agriculture-news.md) | +3.2% | +10.8% |
| CORN | 2016-06-06 | [Soybeans rise on U.S. weather view; wheat, corn firm - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/9123-soybeans-rise-on-u-s-weather-view-wheat-corn-firm-agweek-1-source-for.md) | +2.7% | -7.0% |
| CORN | 2022-01-21 | [The market rally after the reports - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/10893-the-market-rally-after-the-reports-agweek-1-source-for-agriculture-news-farming.md) | +1.4% | +6.9% |
| CORN | 2016-07-14 | [Chicago corn hits 2-week high on U.S. crop concerns - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/4939-chicago-corn-hits-2-week-high-on-u-s-crop-concerns-agweek-1-source-for.md) | +3.9% | -0.6% |
| CORN | 2021-09-18 | [South Dakota corn and soybean yields could range from zero to records - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/44910-south-dakota-corn-and-soybean-yields-could-range-from-zero-to-records-agweek-1.md) | -4.3% | -4.1% |
| WHEAT | 2019-05-19 | [Markets finally respond to wet weather - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/5629-markets-finally-respond-to-wet-weather-agweek-1-source-for-agriculture-news.md) | +10.5% | +9.7% |
| WHEAT | 2016-06-06 | [Soybeans rise on U.S. weather view; wheat, corn firm - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/9123-soybeans-rise-on-u-s-weather-view-wheat-corn-firm-agweek-1-source-for.md) | +3.3% | -4.6% |
| WHEAT | 2022-01-21 | [The market rally after the reports - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/10893-the-market-rally-after-the-reports-agweek-1-source-for-agriculture-news-farming.md) | +0.5% | -1.6% |

## Sources

- agweek.com: https://www.agweek.com/business/markets/from-too-wet-to-too-dry-weather-takes-control-of-market-direction

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