# Midweek Markets: What happened to the weather rally?

> Grain prices rallied in early July on hot, dry weather, but that momentum faded as traders shrugged off large Chinese corn and soybean purchases. Forecasts for rain and milder temperatures across the Midwest weighed on the market, along with the July WASDE report.

- Date: 2020-07-15 · published 2020-07-15T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/4466-midweek-markets-what-happened-to-the-weather-rally
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Benign Midwest weather reduces the drought risk premium, pressuring corn and soybean prices. Chinese buying has not offset that weather-driven selling pressure.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼

## Sources

- farmprogress.com: https://www.farmprogress.com/marketing/midweek-markets-what-happened-to-the-weather-rally-

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