# Continuing dry conditions in the northern hemisphere strengthen markets | The Land | NSW

> Dry weather across much of the United States and northern Europe is deteriorating crop conditions, with the Corn Belt forecast showing no relief into mid-July. Funds hold relatively flat positions and could push futures higher, while Russian wheat remains unaffected.

- Date: 2023-06-22 · published 2023-06-22T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/35547-continuing-dry-conditions-in-the-northern-hemisphere-strengthen-markets-the
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Drought in the US Corn Belt and northern Europe tightens feed grain supply and supports futures, raising feed costs.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲
- SORGHUM: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-06-20 | [Hot and dry conditions increasing drought concerns in the Corn Belt](https://feedsoft.ai/events/13353-hot-and-dry-conditions-increasing-drought-concerns-in-the-corn-belt.md) | -3.7% | -11.8% |
| CORN | 2021-04-23 | [Farming News - ADM Wheat & OSR Market Report - dry weather causes concern in key N Hemisphere wheat growing regions](https://feedsoft.ai/events/47651-farming-news-adm-wheat-and-osr-market-report-dry-weather-causes-concern-in-key.md) | +10.5% | +8.1% |
| CORN | 2019-06-05 | [Droughts and flooding rains impact market \| The Land \| NSW](https://feedsoft.ai/events/8686-droughts-and-flooding-rains-impact-market-the-land-nsw.md) | +0.9% | -0.2% |
| CORN | 2021-06-21 | [Hot, dry weather stresses crops in heart of the Corn Belt and Northern Plains - Pro Farmer](https://feedsoft.ai/events/46417-hot-dry-weather-stresses-crops-in-heart-of-the-corn-belt-and-northern-plains.md) | -3.3% | -8.0% |
| CORN | 2022-01-14 | [La Niña Conditions Likely to Continue into Spring - AgWeb](https://feedsoft.ai/events/43037-la-nina-conditions-likely-to-continue-into-spring-agweb.md) | -0.1% | +6.0% |
| SOY | 2022-06-20 | [Hot and dry conditions increasing drought concerns in the Corn Belt](https://feedsoft.ai/events/13353-hot-and-dry-conditions-increasing-drought-concerns-in-the-corn-belt.md) | -4.2% | -13.2% |
| SOY | 2021-06-21 | [Hot, dry weather stresses crops in heart of the Corn Belt and Northern Plains - Pro Farmer](https://feedsoft.ai/events/46417-hot-dry-weather-stresses-crops-in-heart-of-the-corn-belt-and-northern-plains.md) | -4.7% | +2.3% |
| SOY | 2022-01-14 | [La Niña Conditions Likely to Continue into Spring - AgWeb](https://feedsoft.ai/events/43037-la-nina-conditions-likely-to-continue-into-spring-agweb.md) | +3.6% | +15.9% |

## Sources

- theland.com.au: https://www.theland.com.au/story/8242441/continuing-dry-conditions-bolster-markets/

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