# Wet US conditions boost corn wheat prices | Saxo

> USDA data showed the slowest corn planting since 1980 and the slowest soybean planting since 1996, at 19%. The Bloomberg grains index rallied nearly 10% in a week as more heavy rain was forecast for the US crop belt.

- Date: 2019-05-21 · published 2019-05-21T12:00:00.000Z
- Category: weather · region US · magnitude high
- Page: https://feedsoft.ai/events/5630-wet-us-conditions-boost-corn-wheat-prices-saxo
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Prolonged wet weather and possible switching of corn acres to soybeans tighten the corn supply outlook. Short-covering on a record fund short adds upward price pressure.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-06-23 | [US Corn Crop Withers to Worst Conditions Since 1992, Driving Prices Higher](https://feedsoft.ai/events/9765-us-corn-crop-withers-to-worst-conditions-since-1992-driving-prices-higher.md) | -8.6% | -15.1% |
| CORN | 2021-11-01 | [Black Sea corn, wheat prices soar up: Agritel — Latifundist.com](https://feedsoft.ai/events/14535-black-sea-corn-wheat-prices-soar-up-agritel-latifundist-com.md) | +1.6% | +3.4% |
| CORN | 2018-04-03 | [U.S. grains: Wheat surges as USDA says crop conditions worst since 2002 - AgCanada](https://feedsoft.ai/events/65542-u-s-grains-wheat-surges-as-usda-says-crop-conditions-worst-since-2002-agcanada.md) | +0.7% | +1.4% |
| CORN | 2022-03-24 | [Mixed Weather Conditions for Second-Crop Corn in Brazil](https://feedsoft.ai/events/13733-mixed-weather-conditions-for-second-crop-corn-in-brazil.md) | +1.8% | +8.1% |
| CORN | 2022-07-25 | [Heat takes bite out of corn, soybean and spring wheat crop condition ratings - Pro Farmer](https://feedsoft.ai/events/13344-heat-takes-bite-out-of-corn-soybean-and-spring-wheat-crop-condition-ratings-pro.md) | -0.8% | +3.7% |
| WHEAT | 2018-02-08 | [Dry conditions in the Plains could boost wheat prices \| Capital Press](https://feedsoft.ai/events/66544-dry-conditions-in-the-plains-could-boost-wheat-prices-capital-press.md) | -0.5% | +1.3% |
| WHEAT | 2018-05-31 | [Weather conditions drive up prices for wheat — Latifundist.com](https://feedsoft.ai/events/65073-weather-conditions-drive-up-prices-for-wheat-latifundist-com.md) | +0.2% | -2.0% |
| WHEAT | 2023-06-23 | [US Corn Crop Withers to Worst Conditions Since 1992, Driving Prices Higher](https://feedsoft.ai/events/9765-us-corn-crop-withers-to-worst-conditions-since-1992-driving-prices-higher.md) | +7.4% | -1.1% |

## Sources

- home.saxo: https://www.home.saxo/content/articles/commodities/wet-us-conditions-boost-corn-wheat-prices-21052019

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