# U.S. grains: Soy tumbles as U.S. rain forecast offers relief | Farmtario

> CBOT soybean and corn futures fell on Friday as weather forecasts showed rain for the central US, easing heat and dryness concerns. Wheat dipped as strong US spring wheat projections and cheap Black Sea offers outweighed rain damage to western EU harvests.

- Date: 2024-07-26 · published 2024-07-26T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/29281-u-s-grains-soy-tumbles-as-u-s-rain-forecast-offers-relief-farmtario
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Improved Midwest weather outlook reduces the risk premium in corn and soybeans, while cheap Black Sea wheat caps export competitiveness for other origins.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2017-01-11 | [U.S. grains: Wheat hits one-week low on Plains forecasts \| Farmtario](https://feedsoft.ai/events/73032-u-s-grains-wheat-hits-one-week-low-on-plains-forecasts-farmtario.md) | +0.6% | +4.9% |
| WHEAT | 2017-01-18 | [U.S. grains: Soy up for fourth session on Argentina crop concerns \| Farmtario](https://feedsoft.ai/events/11027-u-s-grains-soy-up-for-fourth-session-on-argentina-crop-concerns-farmtario.md) | -1.3% | +4.2% |
| WHEAT | 2016-07-14 | [U.S. grains: New forecast ends rallies - Manitoba Co-operator](https://feedsoft.ai/events/4942-u-s-grains-new-forecast-ends-rallies-manitoba-co-operator.md) | +0.7% | +1.0% |
| WHEAT | 2019-05-02 | [Feedgrain Focus: New-crop prices tumble on forecast rain - Grain Central](https://feedsoft.ai/events/7490-feedgrain-focus-new-crop-prices-tumble-on-forecast-rain-grain-central.md) | -4.8% | -9.9% |
| WHEAT | 2018-03-19 | [U.S. grains: Wheat tumbles as rains cross drought-hit Plains - Grainews](https://feedsoft.ai/events/8007-u-s-grains-wheat-tumbles-as-rains-cross-drought-hit-plains-grainews.md) | -0.5% | +3.6% |
| SOY | 2017-01-11 | [U.S. grains: Wheat hits one-week low on Plains forecasts \| Farmtario](https://feedsoft.ai/events/73032-u-s-grains-wheat-hits-one-week-low-on-plains-forecasts-farmtario.md) | +6.9% | +5.3% |
| SOY | 2019-12-19 | [U.S. grains: Soy futures ease on rains in South American forecasts - Grainews](https://feedsoft.ai/events/55628-u-s-grains-soy-futures-ease-on-rains-in-south-american-forecasts-grainews.md) | +1.0% | +0.1% |
| SOY | 2016-07-14 | [U.S. grains: New forecast ends rallies - Manitoba Co-operator](https://feedsoft.ai/events/4942-u-s-grains-new-forecast-ends-rallies-manitoba-co-operator.md) | -9.0% | -9.8% |

## Sources

- farmtario.com: https://farmtario.com/daily/u-s-grains-soy-tumbles-as-u-s-rain-forecast-offers-relief/

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