# Market Snapshot | October 21, 2024 - Pro Farmer

> Corn futures were about a nickel higher midmorning on corrective buying and export demand, with USDA reporting daily corn sales to Mexico, South Korea and unknown destinations. Argentina cut its 2024-25 corn planted area estimate by 2.1% due to lack of rainfall, and soybeans and soymeal traded higher.

- Date: 2024-10-21 · published 2024-10-21T12:00:00.000Z
- Category: weather · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/11151-market-snapshot-october-21-2024-pro-farmer
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Argentina's smaller corn area and continued US export sales support corn prices, while Brazil's planting progress limits the upside.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2025-03-17 | [Market Snapshot \| Iffy U.S. weather sparks wheat rally - Pro Farmer](https://feedsoft.ai/events/5622-market-snapshot-iffy-u-s-weather-sparks-wheat-rally-pro-farmer.md) | +7.3% | +7.8% |
| CORN | 2026-02-23 | [Market Snapshot \| Soyoil forges fresh near-term highs - Pro Farmer](https://feedsoft.ai/events/5502-market-snapshot-soyoil-forges-fresh-near-term-highs-pro-farmer.md) | +2.1% | +7.7% |
| CORN | 2024-05-02 | [Ahead of the Open \| May 2, 2024 - Pro Farmer](https://feedsoft.ai/events/5412-ahead-of-the-open-may-2-2024-pro-farmer.md) | +0.9% | +5.7% |
| CORN | 2020-10-19 | [Market Closes - October 19, 2020 - Kentucky Farm Bureau](https://feedsoft.ai/events/8110-market-closes-october-19-2020-kentucky-farm-bureau.md) | +2.7% | +2.6% |
| CORN | 2026-04-23 | [Market Snapshot \| Costly inputs and weather burden global wheat production - Pro Farmer](https://feedsoft.ai/events/19768-market-snapshot-costly-inputs-and-weather-burden-global-wheat-production-pro.md) | +1.7% | +2.9% |
| SOY | 2023-10-24 | [Ahead of the Open \| October 24, 2023 - Pro Farmer](https://feedsoft.ai/events/10316-ahead-of-the-open-october-24-2023-pro-farmer.md) | -0.3% | +6.3% |
| SOY | 2026-02-23 | [Market Snapshot \| Soyoil forges fresh near-term highs - Pro Farmer](https://feedsoft.ai/events/5502-market-snapshot-soyoil-forges-fresh-near-term-highs-pro-farmer.md) | +1.7% | +2.1% |
| SOY | 2024-05-02 | [Ahead of the Open \| May 2, 2024 - Pro Farmer](https://feedsoft.ai/events/5412-ahead-of-the-open-may-2-2024-pro-farmer.md) | +4.9% | +4.7% |

## Sources

- profarmer.com: https://www.profarmer.com/pro-farmer-max/market-snapshot/market-snapshot-october-21-2024

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