# Corn drops for 4th day as rains boost U.S. crop outlook

> Chicago corn fell for a fourth straight session to its lowest level in more than a month as widespread rains across the U.S. Midwest improved crop prospects. Soybeans edged lower and wheat ticked up on Black Sea crop concerns. Commodity funds were net sellers of corn futures, triggering liquidation of long positions.

- Date: 2016-06-23 · published 2016-06-23T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/9744-corn-drops-for-4th-day-as-rains-boost-u-s-crop-outlook
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Rains ahead of pollination reduce the risk of yield losses, easing supply concerns and pressuring corn prices. Lower corn prices lower feed grain costs for buyers.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-08-26 | [U.S. grains: Corn, soy fall as Midwest rains benefit crops - Grainews](https://feedsoft.ai/events/45594-u-s-grains-corn-soy-fall-as-midwest-rains-benefit-crops-grainews.md) | -4.6% | -11.0% |
| CORN | 2021-06-17 | [GRAINS-Corn drops over 2% on U.S. weather outlook; soy, wheat also down \| CNBC Africa](https://feedsoft.ai/events/7308-grains-corn-drops-over-2-on-u-s-weather-outlook-soy-wheat-also-down-cnbc-africa.md) | -2.4% | +2.5% |
| 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 | 2018-10-23 | [Drier Weather Aids U.S. Harvests; Rains Boost South American Crops – Lakeview Grains, LLC](https://feedsoft.ai/events/62374-drier-weather-aids-u-s-harvests-rains-boost-south-american-crops-lakeview.md) | -0.9% | -5.4% |
| CORN | 2021-06-25 | [Farmers and Crops Welcome Recent Rains, as Drought Deepens for Others](https://feedsoft.ai/events/46418-farmers-and-crops-welcome-recent-rains-as-drought-deepens-for-others.md) | +5.6% | -5.6% |
| SOY | 2021-08-26 | [U.S. grains: Corn, soy fall as Midwest rains benefit crops - Grainews](https://feedsoft.ai/events/45594-u-s-grains-corn-soy-fall-as-midwest-rains-benefit-crops-grainews.md) | -5.1% | -4.6% |
| SOY | 2021-06-17 | [GRAINS-Corn drops over 2% on U.S. weather outlook; soy, wheat also down \| CNBC Africa](https://feedsoft.ai/events/7308-grains-corn-drops-over-2-on-u-s-weather-outlook-soy-wheat-also-down-cnbc-africa.md) | -4.4% | -0.1% |
| 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

- reuters.com: https://www.reuters.com/article/markets/commodities/corn-drops-for-4th-day-as-rains-boost-us-crop-outlook-idUSL4N19F0TI/

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