# Weather forecasts support soybeans, corn - Brownfield Ag News

> Soybeans and corn closed higher on speculative and technical buying, while weather was expected to turn mostly dry after recent rain missed some areas. The IGC cut its 2017/18 world soybean production estimate by 3 million tons because of a lower US figure. It also trimmed world corn and wheat output on dryness and other factors.

- Date: 2017-07-27 · published 2017-07-27T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/7126-weather-forecasts-support-soybeans-corn-brownfield-ag-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Lower IGC supply estimates and a drier US outlook tighten global balance sheets for soybeans, corn and wheat, supporting prices.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2017-07-31 | 5 | +6.7% | 3.0 | IGC trimmed world wheat output on dryness and grains closed higher on speculative buying, supporting sentiment, though the focus was mainly soybeans and corn. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2017-07-14 | [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) | +4.2% | -4.3% |
| SOY | 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) | +1.0% | -2.6% |
| SOY | 2017-06-07 | [Corn, soybeans higher on weather concerns - Brownfield Ag News](https://feedsoft.ai/events/70428-corn-soybeans-higher-on-weather-concerns-brownfield-ag-news.md) | +1.0% | +5.7% |
| 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 | 2017-07-14 | [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% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/weather-forecasts-support-soybeans-corn-2/

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