# U.S. grains: Soy, corn slide on macroeconomic fears, biofuel worries - Grainews

> US soybean futures fell to their lowest in nearly two months and corn hit a near one-month low on Friday, with soyoil down more than 5%. Reports said the EPA will recommend lowering federal biofuel blending mandates for 2021 below 2020 levels, while boosting the 2022 mandates above recent years. Wheat also fell, with CBOT December down about 14 cents.

- Date: 2021-08-20 · published 2021-08-20T12:00:00.000Z
- Category: policy · region US · magnitude high
- Page: https://feedsoft.ai/events/11364-u-s-grains-soy-corn-slide-on-macroeconomic-fears-biofuel-worries-grainews
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Lower biofuel blending mandates reduce demand for soyoil and corn used in ethanol, which is a major shift for these markets. The expected cut points to bearish pressure on soyoil and corn, though the stronger 2022 outlook limits the downside.

## Read by commodity

- SBO: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2021-08-20 | 1 | -5.1% | -3.2 | Reports that the EPA will recommend cutting 2021 biofuel blending mandates below 2020 levels cut expected soyoil demand from biodiesel and renewable diesel, directly driving the >5% drop. |
| SBO | 2021-08-19 | 1 | -5.1% | -3.5 | Reports that the EPA will recommend lowering 2021 biofuel blending mandates triggered a sharp soyoil selloff of more than 5%, since biofuel demand is a major driver of soybean oil. |
| SOY | 2021-08-19 | 5 | -9.2% | -3.3 | Soy futures hit a two-month low on Aug 20 amid macro fears and biofuel mandate worries (soyoil down >5%), though it falls just after the 5-day window ending Aug 19, it signals the same biofuel-demand and risk-off selling pressure. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-12-02 | [U.S. grains: Soy snaps win streak on disappointing biofuel mandates - AgCanada](https://feedsoft.ai/events/38340-u-s-grains-soy-snaps-win-streak-on-disappointing-biofuel-mandates-agcanada.md) | -9.7% | -1.7% |
| WHEAT | 2022-12-01 | [Soybeans slide lower on biodiesel woes – The Seam](https://feedsoft.ai/events/9755-soybeans-slide-lower-on-biodiesel-woes-the-seam.md) | -9.9% | -2.4% |
| WHEAT | 2017-09-28 | [U.S. grains: Soy at two-week low on harvest, pre-report adjustments - Country Guide](https://feedsoft.ai/events/68991-u-s-grains-soy-at-two-week-low-on-harvest-pre-report-adjustments-country-guide.md) | +5.4% | +10.6% |
| WHEAT | 2025-06-16 | [Chicago soyoil futures hit 18-month high on biofuel mandate, Mideast tensions](https://feedsoft.ai/events/5339-chicago-soyoil-futures-hit-18-month-high-on-biofuel-mandate-mideast-tensions.md) | -1.0% | -4.3% |
| WHEAT | 2024-11-12 | [U.S. grains: Soybeans plunge with Trump EPA pick; wheat and corn also fall - AgCanada](https://feedsoft.ai/events/12340-u-s-grains-soybeans-plunge-with-trump-epa-pick-wheat-and-corn-also-fall-agcanada.md) | -1.4% | -0.4% |
| SOY | 2021-06-12 | [U.S. grains: Corn, soy drop; soyoil limit-down - Grainews](https://feedsoft.ai/events/6438-u-s-grains-corn-soy-drop-soyoil-limit-down-grainews.md) | -7.5% | -5.0% |
| SOY | 2022-12-02 | [U.S. grains: Soy snaps win streak on disappointing biofuel mandates - AgCanada](https://feedsoft.ai/events/38340-u-s-grains-soy-snaps-win-streak-on-disappointing-biofuel-mandates-agcanada.md) | +4.0% | +6.3% |
| SOY | 2022-12-01 | [Soybeans slide lower on biodiesel woes – The Seam](https://feedsoft.ai/events/9755-soybeans-slide-lower-on-biodiesel-woes-the-seam.md) | +0.2% | +2.7% |

## Sources

- checkout.ie: https://www.checkout.ie/supply-chain/soybeans-corn-slide-on-macroeconomic-fears-biofuel-worries-144026
- grainews.ca: https://www.grainews.ca/daily/u-s-grains-soy-corn-slide-on-macroeconomic-fears-biofuel-worries/

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