# GRAINS-Corn drops over 2% on U.S. weather outlook; soy, wheat also down | CNBC Africa

> Chicago corn fell more than 2% and soybeans dropped to a six-week low on June 17, 2021, as forecasts for cooler, wetter U.S. weather and a strong dollar rise weighed on prices. Reports that the EPA was considering relief for refiners on biofuel blending mandates also pressured soybeans and soyoil.

- Date: 2021-06-17 · published 2021-06-17T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/7308-grains-corn-drops-over-2-on-u-s-weather-outlook-soy-wheat-also-down-cnbc-africa
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Lower weather risk premium and a possible cut to biofuel demand reduce expected soybean crush and soyoil usage, lowering prices for soybean meal and feed inputs. Dollar strength further pressures U.S. commodity prices.

## Read by commodity

- SBO: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2021-06-25 | 5 | -6.6% | -2.9 | Wheat followed corn lower on June 17 as the stronger dollar and wetter U.S. forecasts weighed on grains. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2019-07-02 | [U.S. grains: Corn, soy ease on warmer weather - AgCanada](https://feedsoft.ai/events/58125-u-s-grains-corn-soy-ease-on-warmer-weather-agcanada.md) | +2.8% | +1.7% |
| CORN | 2019-09-11 | [U.S. grains: Soybeans, corn ease on crop-boosting weather - AgCanada](https://feedsoft.ai/events/9148-u-s-grains-soybeans-corn-ease-on-crop-boosting-weather-agcanada.md) | +4.2% | +9.2% |
| CORN | 2016-06-23 | [Corn drops for 4th day as rains boost U.S. crop outlook](https://feedsoft.ai/events/9744-corn-drops-for-4th-day-as-rains-boost-u-s-crop-outlook.md) | -3.5% | -5.7% |
| CORN | 2021-06-17 | [U.S. grains: Corn, soy plunge on weather, broad commodities sell-off - AgCanada](https://feedsoft.ai/events/5762-u-s-grains-corn-soy-plunge-on-weather-broad-commodities-sell-off-agcanada.md) | -2.4% | +2.5% |
| CORN | 2025-06-26 | [U.S. grains: Chicago corn, soy linger at multi-month lows as weather weighs - Grainews](https://feedsoft.ai/events/24226-u-s-grains-chicago-corn-soy-linger-at-multi-month-lows-as-weather-weighs.md) | +4.6% | -1.5% |
| SOY | 2019-07-02 | [U.S. grains: Corn, soy ease on warmer weather - AgCanada](https://feedsoft.ai/events/58125-u-s-grains-corn-soy-ease-on-warmer-weather-agcanada.md) | -0.3% | -0.8% |
| SOY | 2021-10-21 | [U.S. grains: Soy down on South American weather, technical pressure - AgCanada](https://feedsoft.ai/events/44600-u-s-grains-soy-down-on-south-american-weather-technical-pressure-agcanada.md) | -0.5% | +2.5% |
| SOY | 2019-09-11 | [U.S. grains: Soybeans, corn ease on crop-boosting weather - AgCanada](https://feedsoft.ai/events/9148-u-s-grains-soybeans-corn-ease-on-crop-boosting-weather-agcanada.md) | +4.0% | +7.1% |

## Sources

- cnbcafrica.com: https://www.cnbcafrica.com/2021/grains-corn-drops-over-2-on-u-s-weather-outlook-soy-wheat-also-down

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