# Traders react to reports of flooding and crop damage - Brownfield Ag News

> Grain and soybean futures rose on Monday as traders reacted to flooding and crop damage from weekend storms. Non-commercial short covering was the main driver of the gains.

- Date: 2017-05-02 · published 2017-05-02T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/6142-traders-react-to-reports-of-flooding-and-crop-damage-brownfield-ag-news
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Short covering on wet-weather fears lifts corn and soybean prices, and continued rain over the next two weeks could extend the rally, though larger old-crop supplies limit the upside.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2017-05-01 | 1 | +1.9% | 3.4 | Monday's gains in grains were driven by non-commercial short covering after flooding and storm damage, which accounts for the outsized z-score move in corn. |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/news/traders-react-reports-flooding-crop-damage/

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