# Rain in much of Midwest sends soybeans, corn lower - Brownfield Ag News

> Soybeans and corn fell on speculative and technical selling after weekend rain in much of the Midwest, though some drier areas such as Missouri were missed. U.S. soybean planting was 97 percent complete and 74 percent of the crop was rated good to excellent. Brazil revoked an updated minimum freight rate shortly after its release.

- Date: 2018-06-11 · published 2018-06-11T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/8247-rain-in-much-of-midwest-sends-soybeans-corn-lower-brownfield-ag-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Barge Freight (St. Louis)](https://feedsoft.ai/c/BARGE.md)

## Why it matters

Adequate rainfall and strong crop ratings reduce weather premium, while the Brazilian freight rate reversal may disrupt interior and port logistics for soybean exports.

## Read by commodity

- SBM: bearish ▼
- SBO: bullish ▲
- SOY: bearish ▼
- CORN: bearish ▼
- BARGE: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2018-06-11 | 1 | -2.0% | -3.9 | Weekend Midwest rain and speculative/technical selling directly explain the June 11 one-day drop in corn via improved yield outlook. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-01-18 | [Rain potential in Argentina sends corn, soybeans lower - Brownfield Ag News](https://feedsoft.ai/events/10661-rain-potential-in-argentina-sends-corn-soybeans-lower-brownfield-ag-news.md) | -3.3% | -0.1% |
| SOY | 2021-12-13 | [Soybeans, corn down after rain in South America - Brownfield Ag News](https://feedsoft.ai/events/9262-soybeans-corn-down-after-rain-in-south-america-brownfield-ag-news.md) | +1.4% | +8.4% |
| SOY | 2022-08-16 | [Soybeans, corn see more weather pressure - Brownfield Ag News](https://feedsoft.ai/events/6531-soybeans-corn-see-more-weather-pressure-brownfield-ag-news.md) | +2.2% | +2.7% |
| SOY | 2022-01-14 | [Soybeans down on rain potential in South America - Brownfield Ag News](https://feedsoft.ai/events/7366-soybeans-down-on-rain-potential-in-south-america-brownfield-ag-news.md) | +3.6% | +15.9% |
| SOY | 2017-07-13 | [Big drop for corn, soybeans, and wheat - Brownfield Ag News](https://feedsoft.ai/events/6475-big-drop-for-corn-soybeans-and-wheat-brownfield-ag-news.md) | -1.7% | -5.3% |
| CORN | 2023-01-18 | [Rain potential in Argentina sends corn, soybeans lower - Brownfield Ag News](https://feedsoft.ai/events/10661-rain-potential-in-argentina-sends-corn-soybeans-lower-brownfield-ag-news.md) | -1.7% | -1.0% |
| CORN | 2021-12-13 | [Soybeans, corn down after rain in South America - Brownfield Ag News](https://feedsoft.ai/events/9262-soybeans-corn-down-after-rain-in-south-america-brownfield-ag-news.md) | -0.1% | +0.8% |
| CORN | 2022-08-16 | [Soybeans, corn see more weather pressure - Brownfield Ag News](https://feedsoft.ai/events/6531-soybeans-corn-see-more-weather-pressure-brownfield-ag-news.md) | -3.7% | +2.5% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/rain-in-much-of-midwest-sends-soybeans-corn-lower/

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