# Weather Dominates Ag Markets: Crop Surges, Price Wars, Soy Challenges - IASG

> A June 2 advisor commentary says weather dominated May markets, with US corn and soybeans planted ahead of average pace. European and Black Sea wheat estimates rose, and an aggressive price war cut Russian wheat from $275 to $225 per tonne over the month. US SRW lost almost 10% in May, and Kansas HRW was tracked at a 66-year low.

- Date: 2023-06-02 · published 2023-06-02T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/35515-weather-dominates-ag-markets-crop-surges-price-wars-soy-challenges-iasg
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Heavy Black Sea and European supplies with large carryover stocks keep wheat export prices under pressure, which favors cheap wheat for feed use. Early US planting supports expectations of normal corn yields.

## Read by commodity

- CORN: neutral
- WHEAT: bearish ▼
- KWHEAT: neutral

## Sources

- iasg.com: https://www.iasg.com/blog/2023/06/02/weather-dominates-ag-markets-crop-surges-price-wars-soy-challenges

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