# Corn hits 3-month high; soy, wheat climb on global crop weather woes

> US July corn rose to 4.60-1/4 USD/bu, its highest since late January, after touching 4.68. July soybeans settled at 12.15 USD/bu and July wheat at 6.22-1/2 after Russian dryness lifted wheat. Brazilian flooding and Argentine corn disease and cuts to its harvest estimate supported prices.

- Date: 2024-05-04 · published 2024-05-04T12:00:00.000Z
- Category: weather · region Global · magnitude high
- Page: https://feedsoft.ai/events/6453-corn-hits-3-month-high-soy-wheat-climb-on-global-crop-weather-woes
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Argentine corn crop cuts, Brazilian flood disruption and Russian dryness reduce global feed grain supplies, supporting corn, soybean and wheat prices.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2024-05-05 | 5 | +7.8% | 3.1 | Broad grain rally on global crop weather woes, with Brazil flooding supporting soybeans, plus spillover from corn and wheat strength. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2019-05-21 | [Corn climbs to 1-year peak, wheat hits 3-month high](https://feedsoft.ai/events/5628-corn-climbs-to-1-year-peak-wheat-hits-3-month-high.md) | +2.4% | +10.9% |
| CORN | 2019-05-30 | [U.S. grains: Wheat, corn, soy rally on weather woes - Grainews](https://feedsoft.ai/events/9307-u-s-grains-wheat-corn-soy-rally-on-weather-woes-grainews.md) | -0.9% | +6.0% |
| CORN | 2018-02-27 | [U.S. grains: Wheat hits seven-month high on crop ratings - Grainews](https://feedsoft.ai/events/12433-u-s-grains-wheat-hits-seven-month-high-on-crop-ratings-grainews.md) | +1.6% | +2.4% |
| CORN | 2023-06-22 | [U.S. grains: Soy, corn, wheat rally to multi-month highs on weather concerns \| Farmtario](https://feedsoft.ai/events/35545-u-s-grains-soy-corn-wheat-rally-to-multi-month-highs-on-weather-concerns.md) | -8.7% | -14.9% |
| CORN | 2017-05-19 | [U.S. grains: Corn hits one-week high on weather worries - AgCanada](https://feedsoft.ai/events/7590-u-s-grains-corn-hits-one-week-high-on-weather-worries-agcanada.md) | +1.3% | +2.6% |
| SOY | 2019-05-21 | [Corn climbs to 1-year peak, wheat hits 3-month high](https://feedsoft.ai/events/5628-corn-climbs-to-1-year-peak-wheat-hits-3-month-high.md) | +2.9% | +9.8% |
| SOY | 2019-05-30 | [U.S. grains: Wheat, corn, soy rally on weather woes - Grainews](https://feedsoft.ai/events/9307-u-s-grains-wheat-corn-soy-rally-on-weather-woes-grainews.md) | -0.3% | +2.6% |
| SOY | 2018-02-27 | [U.S. grains: Wheat hits seven-month high on crop ratings - Grainews](https://feedsoft.ai/events/12433-u-s-grains-wheat-hits-seven-month-high-on-crop-ratings-grainews.md) | +3.1% | -0.8% |

## Sources

- cnbc.com: https://www.cnbc.com/2024/05/04/corn-hits-3-month-high-soy-wheat-climb-on-global-crop-weather-woes.html

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