# Another round of weather support - Brownfield Ag News

> Soybeans, meal and oil rose on short covering and technical buying, with the US planting pace the slowest on record. Mexico bought 113,000 tons of old-crop US corn, and Ukraine estimated 2019/20 corn output at 33.1 million tons, down from 35.6 million.

- Date: 2019-05-24 · published 2019-05-24T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/5439-another-round-of-weather-support-brownfield-ag-news
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Record-slow planting and Mexican buying support US corn and soymeal prices, while smaller Ukrainian exports reduce competition for US corn next season.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2019-05-29 | 5 | +10.2% | 5.4 | Soybeans, meal and oil rallied on short covering as US planting pace was the slowest on record, a direct supply-risk driver of meal price gains. |
| SBM | 2019-05-27 | 1 | +4.1% | 4.2 | Soybeans and meal rallied on short covering and the slowest US planting pace on record, which is the supply-risk and technical impulse feeding into the late-May move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-05-01 | [Weather woes support corn, soybeans, wheat - Brownfield Ag News](https://feedsoft.ai/events/10482-weather-woes-support-corn-soybeans-wheat-brownfield-ag-news.md) | +1.1% | +4.2% |
| CORN | 2017-07-27 | [Weather forecasts support soybeans, corn - Brownfield Ag News](https://feedsoft.ai/events/7126-weather-forecasts-support-soybeans-corn-brownfield-ag-news.md) | -1.3% | -7.0% |
| CORN | 2017-07-14 | [Soybeans, corn supported by renewed weather concerns - Brownfield Ag News](https://feedsoft.ai/events/69796-soybeans-corn-supported-by-renewed-weather-concerns-brownfield-ag-news.md) | +5.3% | -1.2% |
| CORN | 2018-03-01 | [Weather provides more support in corn, soybeans, and wheat - Brownfield Ag News](https://feedsoft.ai/events/66079-weather-provides-more-support-in-corn-soybeans-and-wheat-brownfield-ag-news.md) | +0.8% | +1.3% |
| CORN | 2024-02-09 | [Weather market for grains - Brownfield Ag News](https://feedsoft.ai/events/13206-weather-market-for-grains-brownfield-ag-news.md) | -2.2% | +2.9% |
| SOY | 2023-08-25 | [More weather support for soybeans - Brownfield Ag News](https://feedsoft.ai/events/34665-more-weather-support-for-soybeans-brownfield-ag-news.md) | -0.4% | -5.1% |
| SOY | 2017-05-01 | [Weather woes support corn, soybeans, wheat - Brownfield Ag News](https://feedsoft.ai/events/10482-weather-woes-support-corn-soybeans-wheat-brownfield-ag-news.md) | +1.9% | -2.0% |
| SOY | 2017-07-27 | [Weather forecasts support soybeans, corn - Brownfield Ag News](https://feedsoft.ai/events/7126-weather-forecasts-support-soybeans-corn-brownfield-ag-news.md) | -2.3% | -5.4% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/another-round-of-weather-support/

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