# Summer cools grain markets | Global Perspective | The Land | NSW

> Improved July weather in the US Midwest has eased concerns over the corn crop, cooling the corn market and removing the heat that lifted wheat in June. Brazil is forecast to produce a record corn crop of more than 100 million tonnes.

- Date: 2019-07-31 · published 2019-07-31T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/58139-summer-cools-grain-markets-global-perspective-the-land-nsw
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Better US crop prospects and record Brazilian corn supply weigh on global corn prices, which lowers feed costs for buyers, while wheat loses its weather-driven support.

## Read by commodity

- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2019-09-05 | [Market Perspectives – September 5, 2019 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/9142-market-perspectives-september-5-2019-u-s-grains-and-bioproducts-council.md) | -2.8% | +3.3% |
| CORN | 2016-06-23 | [Market Perspectives June 23, 2016 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/10239-market-perspectives-june-23-2016-u-s-grains-and-bioproducts-council.md) | -3.5% | -5.7% |
| CORN | 2021-06-17 | [Market Perspectives – June 17, 2021 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/7305-market-perspectives-june-17-2021-u-s-grains-and-bioproducts-council.md) | -2.4% | +2.5% |
| CORN | 2024-08-01 | [Market Perspectives - August 1, 2024 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/12103-market-perspectives-august-1-2024-u-s-grains-and-bioproducts-council.md) | -0.1% | -3.8% |
| CORN | 2021-01-26 | [Focus turns to supply chain and moving grain \| The Land \| NSW](https://feedsoft.ai/events/49028-focus-turns-to-supply-chain-and-moving-grain-the-land-nsw.md) | +5.1% | +1.5% |
| WHEAT | 2016-06-27 | [Grain slides on global markets tumble​ \| Queensland Country Life \| QLD](https://feedsoft.ai/events/11729-grain-slides-on-global-markets-tumble-queensland-country-life-qld.md) | -8.4% | -9.4% |
| WHEAT | 2016-06-23 | [Market Perspectives June 23, 2016 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/10239-market-perspectives-june-23-2016-u-s-grains-and-bioproducts-council.md) | -8.0% | -10.0% |
| WHEAT | 2021-06-17 | [Market Perspectives – June 17, 2021 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/7305-market-perspectives-june-17-2021-u-s-grains-and-bioproducts-council.md) | -7.8% | -12.3% |

## Sources

- theland.com.au: https://www.theland.com.au/story/6302305/summer-cools-grain-markets/

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