Lack of water is not the problem. We've had a very wet spring here in Chicagoland. Is this due to an unfavorable soil pH or something like that?
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Ph is irrelevant for this tree - but it doesn't like heavy, wet soil, so if the symptoms its displaying have only occurred during your wet spring, it might be that. Depending on how long the tree's been showing symptoms, it might be something else altogether - if it started at the bottom, at the needle tips, and has gradually spread up the tree over a period of time including last year, it might be Sphaeropsis tip blight, an ultimately lethal fungal disease to which these trees are very susceptible, and which has no treatment once it's this far advanced.
It could be needle cast. A type of fungus that you need to proactively treat in the spring before the new candles break. Oh what Bamboo said...