# Bearish August WASDE and a small rally — This week in the grain markets - RealAgriculture

> Grain markets closed the second week of August mostly higher despite a bearish USDA August WASDE that projected record national average corn and soybean yields. The complex rallied on a derecho windstorm that damaged an estimated 10 million acres of Iowa farmland and stored grain, and on solid export sales. Canola eased on a large Western Canada crop outlook and speculator profit-taking, while the Canadian dollar traded above 75.5 US cents.

- Date: 2020-08-15 · published 2020-08-15T12:00:00.000Z
- Category: weather · region US · magnitude high
- Page: https://feedsoft.ai/events/10687-bearish-august-wasde-and-a-small-rally-this-week-in-the-grain-markets
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

The derecho damage is a potential supply loss that could lift corn and soybean prices, though record yield expectations cap upside, and canola prices remain supported by strong exports and crush.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- USDCAD: neutral
- CANMEAL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2019-05-18 | [Politics lure prices higher — this week in the grain markets - RealAgriculture](https://feedsoft.ai/events/12126-politics-lure-prices-higher-this-week-in-the-grain-markets-realagriculture.md) | +3.2% | +10.8% |
| CORN | 2022-01-21 | [The market rally after the reports - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/10893-the-market-rally-after-the-reports-agweek-1-source-for-agriculture-news-farming.md) | +1.4% | +6.9% |
| CORN | 2019-05-19 | [Markets finally respond to wet weather - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/5629-markets-finally-respond-to-wet-weather-agweek-1-source-for-agriculture-news.md) | +3.2% | +10.8% |
| CORN | 2020-10-05 | [Grain Markets Start the Week Higher - ProAg](https://feedsoft.ai/events/11633-grain-markets-start-the-week-higher-proag.md) | +0.6% | +5.8% |
| CORN | 2019-06-02 | [Feed cost increases have feedyards paying attention to the weather market - RealAgriculture](https://feedsoft.ai/events/58669-feed-cost-increases-have-feedyards-paying-attention-to-the-weather-market.md) | -1.9% | +1.4% |
| SOY | 2022-01-21 | [The market rally after the reports - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/10893-the-market-rally-after-the-reports-agweek-1-source-for-agriculture-news-farming.md) | +1.6% | +11.7% |
| SOY | 2023-12-22 | [Grains respond to continued hot, dry weather in Brazil - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/11282-grains-respond-to-continued-hot-dry-weather-in-brazil-agweek-1-source-for.md) | -0.3% | -4.5% |
| SOY | 2019-05-19 | [Markets finally respond to wet weather - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/5629-markets-finally-respond-to-wet-weather-agweek-1-source-for-agriculture-news.md) | +1.0% | +11.1% |

## Sources

- realagriculture.com: https://www.realagriculture.com/2020/08/bearish-august-wasde-and-a-small-rally-this-week-in-the-grain-markets/

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