# US Corn Crop Withers to Worst Conditions Since 1992, Driving Prices Higher

> Persistent dry weather in the US has pushed corn crop conditions to their worst levels in about three decades, with only 55% of the crop rated good to excellent. Chicago corn futures jumped more than 12% over four sessions, with December contracts reaching as high as $6.2625 a bushel.

- Date: 2023-06-23 · published 2023-06-23T12:00:00.000Z
- Category: weather · region US · magnitude high
- Page: https://feedsoft.ai/events/9765-us-corn-crop-withers-to-worst-conditions-since-1992-driving-prices-higher
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [DDGS](https://feedsoft.ai/c/DDGS.md)

## Why it matters

A sharp deterioration in US crop ratings cuts expected yields from the world's largest corn producer, tightening feed grain supplies and lifting corn and feed costs for buyers.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2019-05-21 | [Wet US conditions boost corn wheat prices \| Saxo](https://feedsoft.ai/events/5630-wet-us-conditions-boost-corn-wheat-prices-saxo.md) | +2.4% | +10.9% |
| CORN | 2020-08-26 | [Low rainfall in US Midwest drives corn prices higher](https://feedsoft.ai/events/51639-low-rainfall-in-us-midwest-drives-corn-prices-higher.md) | +1.5% | +7.0% |
| CORN | 2018-04-03 | [U.S. grains: Wheat surges as USDA says crop conditions worst since 2002 - AgCanada](https://feedsoft.ai/events/65542-u-s-grains-wheat-surges-as-usda-says-crop-conditions-worst-since-2002-agcanada.md) | +0.7% | +1.4% |
| CORN | 2021-03-05 | [USA: drought conditions persist in many top corn growing states](https://feedsoft.ai/events/47956-usa-drought-conditions-persist-in-many-top-corn-growing-states.md) | +5.1% | +7.2% |
| CORN | 2019-07-08 | [Higher corn futures cause feeder calf prices to dip](https://feedsoft.ai/events/58230-higher-corn-futures-cause-feeder-calf-prices-to-dip.md) | +2.0% | -3.2% |
| SOY | 2019-05-21 | [Wet US conditions boost corn wheat prices \| Saxo](https://feedsoft.ai/events/5630-wet-us-conditions-boost-corn-wheat-prices-saxo.md) | +2.9% | +9.8% |
| SOY | 2022-01-19 | [U.S. grains: Wheat, corn rally to highest since December - AgCanada](https://feedsoft.ai/events/11816-u-s-grains-wheat-corn-rally-to-highest-since-december-agcanada.md) | +3.4% | +14.0% |
| SOY | 2022-06-20 | [Hot and dry conditions increasing drought concerns in the Corn Belt](https://feedsoft.ai/events/13353-hot-and-dry-conditions-increasing-drought-concerns-in-the-corn-belt.md) | -4.2% | -13.2% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/us-corn-crop-withers-to-worst-conditions-since-1992-driving-prices-higher/

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