# Corn sags 3 percent as forecast rains trigger long liquidation - Agweek | #1 source for agriculture news, farming, markets

> U.S. corn futures fell more than 3 percent on Monday as forecasts called for much-needed rain in the Midwest. Soybeans also weakened, while wheat slipped under pressure from corn and soy and from the U.S. winter wheat harvest. Corn posted the biggest declines because it is seen as the most likely to benefit from the rains.

- Date: 2016-06-20 · published 2016-06-20T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/9745-corn-sags-3-percent-as-forecast-rains-trigger-long-liquidation-agweek-1-source
- 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

Improved moisture before corn pollination lowers the odds of a drought-related yield cut, which weighs on near-term feed grain prices. Soybeans are less sensitive to July weather, so their move is smaller.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2016-06-20 | 1 | +3.4% | 3.3 | On 2016-06-20 corn fell over 3% on Midwest rain forecasts and long liquidation, and wheat slipped with corn and soy plus winter wheat harvest pressure, which matches the move date. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2016-11-09 | [Warm autumn weather cools U.S. feed demand, worsening grain glut - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/73882-warm-autumn-weather-cools-u-s-feed-demand-worsening-grain-glut-agweek-1-source.md) | -6.6% | -4.5% |
| CORN | 2018-11-04 | [Wheat markets mixed during week - Agriculture News Network](https://feedsoft.ai/events/11215-wheat-markets-mixed-during-week-agriculture-news-network.md) | +1.8% | +1.4% |
| CORN | 2020-01-23 | [Favourable growing conditions forecast for major ag regions - Grainews](https://feedsoft.ai/events/54994-favourable-growing-conditions-forecast-for-major-ag-regions-grainews.md) | -1.0% | -1.5% |
| CORN | 2021-01-20 | [Soybeans down for third session on South America rains; wheat, corn fall - Markets - Business Recorder](https://feedsoft.ai/events/8238-soybeans-down-for-third-session-on-south-america-rains-wheat-corn-fall-markets.md) | +3.1% | +2.1% |
| CORN | 2023-01-19 | [Soybeans, corn slide on forecasts for much-needed Argentine rains \| Financial Post](https://feedsoft.ai/events/10660-soybeans-corn-slide-on-forecasts-for-much-needed-argentine-rains-financial-post.md) | -1.6% | -1.2% |
| SOY | 2016-11-09 | [Warm autumn weather cools U.S. feed demand, worsening grain glut - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/73882-warm-autumn-weather-cools-u-s-feed-demand-worsening-grain-glut-agweek-1-source.md) | -1.6% | +2.5% |
| SOY | 2018-11-04 | [Wheat markets mixed during week - Agriculture News Network](https://feedsoft.ai/events/11215-wheat-markets-mixed-during-week-agriculture-news-network.md) | 0.0% | +3.5% |
| SOY | 2020-01-23 | [Favourable growing conditions forecast for major ag regions - Grainews](https://feedsoft.ai/events/54994-favourable-growing-conditions-forecast-for-major-ag-regions-grainews.md) | -2.3% | -2.3% |

## Sources

- agweek.com: https://www.agweek.com/business/corn-sags-3-percent-as-forecast-rains-trigger-long-liquidation

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