# Weather boosts rally price targets

> Farm Futures analyst Bryce Knorr says slow planting and forecasts for warm, dry Midwest summer conditions could cut corn and soybean acreage and yields by 2% to 4%. May 15 corn planting in eight key states was only 51%, the third slowest in 20 years. USDA had already cut its trend corn yield by four bushels to 177 bpa.

- Date: 2022-05-23 · published 2022-05-23T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/13361-weather-boosts-rally-price-targets
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Lower acreage and yields tighten the corn and soybean balance sheet, supporting feed grain and soybean meal prices. Forecast-based risk premium can add to the rally if hot, dry weather materializes.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2026-06-26 | [Corn: Dry weather forecasts drive up corn prices](https://feedsoft.ai/events/18832-corn-dry-weather-forecasts-drive-up-corn-prices.md) | -1.3% | +5.3% |
| CORN | 2017-04-01 | [Rolling the dice on weather](https://feedsoft.ai/events/71338-rolling-the-dice-on-weather.md) | -0.9% | +1.5% |
| CORN | 2017-05-01 | [Extreme weather brings CBoT into price rally - Inside: Grains & Raw Material \| Boerenbusiness. Nl](https://feedsoft.ai/events/10487-extreme-weather-brings-cbot-into-price-rally-inside-grains-and-raw-material.md) | +1.1% | +4.2% |
| CORN | 2018-05-29 | [Wheat prices are rising because of the hot and dry weather](https://feedsoft.ai/events/65065-wheat-prices-are-rising-because-of-the-hot-and-dry-weather.md) | -3.7% | -9.3% |
| CORN | 2021-03-06 | [U.S. grains: Soy futures rally on dry Argentina weather - Grainews](https://feedsoft.ai/events/8633-u-s-grains-soy-futures-rally-on-dry-argentina-weather-grainews.md) | +2.7% | +3.0% |
| SOY | 2017-04-01 | [Rolling the dice on weather](https://feedsoft.ai/events/71338-rolling-the-dice-on-weather.md) | -0.4% | +1.4% |
| SOY | 2017-05-01 | [Extreme weather brings CBoT into price rally - Inside: Grains & Raw Material \| Boerenbusiness. Nl](https://feedsoft.ai/events/10487-extreme-weather-brings-cbot-into-price-rally-inside-grains-and-raw-material.md) | +1.9% | -2.0% |
| SOY | 2021-03-06 | [U.S. grains: Soy futures rally on dry Argentina weather - Grainews](https://feedsoft.ai/events/8633-u-s-grains-soy-futures-rally-on-dry-argentina-weather-grainews.md) | -1.3% | -1.5% |

## Sources

- farmprogress.com: https://www.farmprogress.com/commentary/weather-boosts-rally-price-targets

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