# Corn futures fall 6% after bearish USDA crop report; soybeans down 1.3%

> Corn futures fell 6% to $3.9275 a bushel on August 12 after USDA's August crop report projected larger-than-expected production following a wet spring and dry summer. November soybeans dropped 1.3% as USDA forecast soybean output down 19% from last year.

- Date: 2019-08-12 · published 2019-08-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/11736-corn-futures-fall-6-after-bearish-usda-crop-report-soybeans-down-1-3
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A larger-than-expected corn crop estimate points to ample feed grain supplies and lower corn prices, while the sharply lower soybean crop supports soybean meal values.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2019-08-14 | 5 | -7.6% | -3.3 | Corn futures fell 6% to $3.9275 on the USDA report's larger-than-expected production, a major part of the weekly decline. |
| CORN | 2019-08-11 | 1 | -3.7% | -3.3 | Corn futures fell 6% after USDA projected larger-than-expected production, which directly describes the sell-off. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2023-07-12 | [USDA Report Bearish News for Corn and Soybeans](https://feedsoft.ai/events/34982-usda-report-bearish-news-for-corn-and-soybeans.md) | +1.5% | +3.4% |
| WHEAT | 2017-03-09 | [USDA Report: Soybeans get a bearish surprise](https://feedsoft.ai/events/71935-usda-report-soybeans-get-a-bearish-surprise.md) | +0.7% | +0.6% |
| WHEAT | 2019-04-09 | [Futures mixed after mixed USDA reports](https://feedsoft.ai/events/59544-futures-mixed-after-mixed-usda-reports.md) | -0.5% | -10.8% |
| WHEAT | 2023-04-11 | [Soybeans up, corn, wheat down after USDA numbers - Brownfield Ag News](https://feedsoft.ai/events/36347-soybeans-up-corn-wheat-down-after-usda-numbers-brownfield-ag-news.md) | +8.8% | -0.9% |
| WHEAT | 2026-03-10 | [Soybeans up, corn and wheat down after quiet March WASDE report - Brownfield Ag News](https://feedsoft.ai/events/10386-soybeans-up-corn-and-wheat-down-after-quiet-march-wasde-report-brownfield-ag.md) | -1.3% | -1.1% |
| CORN | 2023-07-12 | [USDA Report Bearish News for Corn and Soybeans](https://feedsoft.ai/events/34982-usda-report-bearish-news-for-corn-and-soybeans.md) | -5.7% | -8.7% |
| CORN | 2021-09-10 | [Corn, Soybean, Wheat Futures Rise Friday Despite Bearish USDA WASDE Report](https://feedsoft.ai/events/45041-corn-soybean-wheat-futures-rise-friday-despite-bearish-usda-wasde-report.md) | +1.1% | -1.9% |
| CORN | 2016-09-12 | [USDA Report: Larger soybean crop sparks bearish reaction](https://feedsoft.ai/events/10184-usda-report-larger-soybean-crop-sparks-bearish-reaction.md) | +1.6% | +4.4% |

## Sources

- agcanada.com: https://www.agcanada.com/daily/u-s-grains-corn-plunges-most-in-three-years-on-crop-estimate-surprises
- foodbusinessnews.net: https://www.foodbusinessnews.net/articles/14414-corn-prices-fall-sharply-on-surprising-usda-production-data
- marketwatch.com: https://www.marketwatch.com/story/corn-futures-fall-6-after-bearish-usda-crop-report-soybeans-down-13-2019-08-12

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