# Why have markets rallied while US crop estimates grow? Grain Market Daily | AHDB

> A derecho storm crossed the US Midwest, reportedly damaging over 4 million hectares of arable land in Iowa and flattening much of the maize crop. Chicago maize futures gained $4.53/t in one session, partly on short covering after the USDA projected a large crop. UK wheat futures also closed higher.

- Date: 2020-08-14 · published 2020-08-14T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/11344-why-have-markets-rallied-while-us-crop-estimates-grow-grain-market-daily-ahdb
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Crop damage in the core Corn Belt reduces expected US maize supply and supports feed grain prices. Buyers face higher corn costs unless the damage proves less severe than reported.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-07-16 | [Prices rally as Russian crop reduces: Grain market daily \| AHDB](https://feedsoft.ai/events/46105-prices-rally-as-russian-crop-reduces-grain-market-daily-ahdb.md) | -0.1% | -1.0% |
| CORN | 2022-06-29 | [What’s driving the volatile grain market? Grain market daily \| AHDB](https://feedsoft.ai/events/40981-what-s-driving-the-volatile-grain-market-grain-market-daily-ahdb.md) | +1.2% | -16.3% |
| CORN | 2020-07-01 | [What do bumper Oz crops mean for your price? Grain Market Daily \| AHDB](https://feedsoft.ai/events/52066-what-do-bumper-oz-crops-mean-for-your-price-grain-market-daily-ahdb.md) | +1.9% | -4.5% |
| CORN | 2021-08-24 | [Dry weather risk for 2021/22 South American crops: Grain market daily \| AHDB](https://feedsoft.ai/events/45430-dry-weather-risk-for-2021-22-south-american-crops-grain-market-daily-ahdb.md) | -0.4% | -10.1% |
| CORN | 2026-04-23 | [Wheat Futures Climb as Drought Hits Winter Crop - Daily Grain Highlights \| MarketScreener](https://feedsoft.ai/events/19769-wheat-futures-climb-as-drought-hits-winter-crop-daily-grain-highlights.md) | +1.7% | +2.9% |
| WHEAT | 2021-07-16 | [Prices rally as Russian crop reduces: Grain market daily \| AHDB](https://feedsoft.ai/events/46105-prices-rally-as-russian-crop-reduces-grain-market-daily-ahdb.md) | +0.1% | -0.4% |
| WHEAT | 2024-04-10 | [Heavy rains impact European crop conditions: Grain market daily \| AHDB](https://feedsoft.ai/events/30698-heavy-rains-impact-european-crop-conditions-grain-market-daily-ahdb.md) | -0.4% | -0.3% |
| WHEAT | 2023-08-04 | [Quality worries in Europe as rain stalls harvest: Grain market daily \| AHDB](https://feedsoft.ai/events/34521-quality-worries-in-europe-as-rain-stalls-harvest-grain-market-daily-ahdb.md) | +1.0% | -6.6% |

## Sources

- ahdb.org.uk: https://ahdb.org.uk/news/why-have-markets-rallied-while-us-crop-estimates-grow-grain-market-daily

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