# Corn, soybean futures up on fears of Corn Belt drought | Feed Strategy

> Corn and soybean futures rose last week after earlier declines, on rumors of dry weather in the US Midwest. Soybeans climbed about $1.60 a bushel from a May 31 low, and 45% of major crop areas were in some stage of drought by June 6.

- Date: 2023-06-20 · published 2023-06-20T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/9768-corn-soybean-futures-up-on-fears-of-corn-belt-drought-feed-strategy
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Dryness fears and falling crop ratings lift feed grain prices, while USDA kept trend-line yields, leaving the weather as the main upside risk for corn and soymeal costs.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2023-06-20 | 1 | +5.0% | 4.6 | Corn and soybean futures rallied on US Midwest dryness fears, with soybeans up sharply from the May 31 low, a direct supply-risk driver for soybean meal in the days up to June 20. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-02-11 | [Corn, soybean prices spike on reports of decreased yields \| Feed Strategy](https://feedsoft.ai/events/42746-corn-soybean-prices-spike-on-reports-of-decreased-yields-feed-strategy.md) | +0.7% | +14.4% |
| CORN | 2017-07-14 | [Corn, Soybean Futures Climb After Week of Losses \| Fox Business](https://feedsoft.ai/events/11082-corn-soybean-futures-climb-after-week-of-losses-fox-business.md) | +5.3% | -1.2% |
| CORN | 2024-11-01 | [Ohio farmers see reduced yields on corn and soybeans from drought](https://feedsoft.ai/events/13138-ohio-farmers-see-reduced-yields-on-corn-and-soybeans-from-drought.md) | +2.5% | -0.2% |
| CORN | 2021-05-07 | [Iowa farmers wary as drought deepens even with corn, soybean prices up](https://feedsoft.ai/events/46944-iowa-farmers-wary-as-drought-deepens-even-with-corn-soybean-prices-up.md) | -3.0% | -7.4% |
| CORN | 2022-09-26 | [Percent Drought in US Corn, Bean Areas Highest of Season](https://feedsoft.ai/events/13333-percent-drought-in-us-corn-bean-areas-highest-of-season.md) | -1.4% | +2.6% |
| SOY | 2022-02-11 | [Corn, soybean prices spike on reports of decreased yields \| Feed Strategy](https://feedsoft.ai/events/42746-corn-soybean-prices-spike-on-reports-of-decreased-yields-feed-strategy.md) | +1.1% | +7.4% |
| SOY | 2023-02-14 | [Soybean Meal Futures Rise On Argentina Drought](https://feedsoft.ai/events/37454-soybean-meal-futures-rise-on-argentina-drought.md) | +0.4% | -2.8% |
| SOY | 2022-07-25 | [Could high temperatures, drought hammer 2022 corn, soybeans?](https://feedsoft.ai/events/13347-could-high-temperatures-drought-hammer-2022-corn-soybeans.md) | +14.1% | +3.8% |

## Sources

- feedstrategy.com: https://www.feedstrategy.com/business-markets/commodities/article/15540875/corn-soybean-futures-up-on-fears-of-corn-belt-drought

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