# Surging grain prices add to inflation unease | Saxo

> The USDA's November WASDE cut US corn and soybean production and raised export estimates, pushing crop prices to multi-year highs. Soybean ending stocks were pegged at 140 million bushels, down 77% from August, and corn ending stocks at 1.552 billion bushels, the lowest since 2013. USDA also lowered Brazil and Argentina export forecasts, and Russia and Argentina considered export limits.

- Date: 2020-12-02 · published 2020-12-02T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/11431-surging-grain-prices-add-to-inflation-unease-saxo
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Tight US stocks and reduced South American export outlooks support corn, soybean and meal prices, and export restrictions from major exporters add further upside risk.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-12-15 | [Surging feed prices will test recovery in US animal protein production](https://feedsoft.ai/events/49813-surging-feed-prices-will-test-recovery-in-us-animal-protein-production.md) | -1.7% | +15.6% |
| CORN | 2018-03-29 | [Grain ETFs Surge as U.S. Cuts Back in Planting Season](https://feedsoft.ai/events/66028-grain-etfs-surge-as-u-s-cuts-back-in-planting-season.md) | +4.8% | +4.9% |
| CORN | 2026-09-17 | [IGC: Grain production falls but GOI prices rise \| World Grain](https://feedsoft.ai/events/9696-igc-grain-production-falls-but-goi-prices-rise-world-grain.md) | -1.2% | -5.6% |
| CORN | 2022-04-29 | [Soybean, sunflower production growing in Argentina \| World Grain](https://feedsoft.ai/events/14039-soybean-sunflower-production-growing-in-argentina-world-grain.md) | -7.1% | -3.2% |
| CORN | 2021-01-12 | [Grain prices soar on bullish USDA reports](https://feedsoft.ai/events/49089-grain-prices-soar-on-bullish-usda-reports.md) | +5.8% | +11.6% |
| SOY | 2018-03-29 | [Grain ETFs Surge as U.S. Cuts Back in Planting Season](https://feedsoft.ai/events/66028-grain-etfs-surge-as-u-s-cuts-back-in-planting-season.md) | +1.3% | +1.0% |
| SOY | 2021-01-12 | [Grain prices soar on bullish USDA reports](https://feedsoft.ai/events/49089-grain-prices-soar-on-bullish-usda-reports.md) | +0.8% | +2.0% |
| SOY | 2018-07-19 | [U.S. Grain Prices Crunched by Trade Fears  - WSJ](https://feedsoft.ai/events/6565-u-s-grain-prices-crunched-by-trade-fears-wsj.md) | +2.2% | +1.8% |

## Sources

- home.saxo: https://www.home.saxo/content/articles/commodities/surging-grain-prices-add-to-inflation-unease-13012021

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