# USDA springs further surprise in crop report | Farm Online | ACT

> December corn futures closed limit down 25 cents at 392 cents a bushel after a WASDE report failed to cut US corn acreage and yields as expected. The contract slipped further to 387 cents early Tuesday, with some analysts seeing a possible drop to 330 cents.

- Date: 2019-08-13 · published 2019-08-13T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/11740-usda-springs-further-surprise-in-crop-report-farm-online-act
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Lower North American grain prices could open the door for imports into Australia if local prices rise, while the sharp US decline reinforces bearish global feed grain pricing.

## Read by commodity

- CORN: bearish ▼
- WHEAT: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2019-08-14 | 5 | -7.6% | -3.3 | December corn closed limit down 25 cents on Aug 13 after USDA's surprise report left acreage and yield higher than expected, the main driver of the 5-day drop. |
| CORN | 2019-08-11 | 1 | -3.7% | -3.3 | December corn closed limit down 25 cents after the surprise USDA report, which fits the large one-day drop in corn. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2018-08-13 | [No surprises in USDA report \| Farm Online \| ACT](https://feedsoft.ai/events/63483-no-surprises-in-usda-report-farm-online-act.md) | -5.9% | -7.2% |
| CORN | 2019-08-13 | [USDA CROP REPORT SURPRISES TRADE – McLean County Farm Bureau](https://feedsoft.ai/events/11742-usda-crop-report-surprises-trade-mclean-county-farm-bureau.md) | -3.3% | -8.2% |
| CORN | 2019-06-28 | [USDA Reports Surprise Sends Corn Market Reeling](https://feedsoft.ai/events/58539-usda-reports-surprise-sends-corn-market-reeling.md) | -2.0% | -4.5% |
| CORN | 2017-03-09 | [USDA Report: Soybeans get a bearish surprise](https://feedsoft.ai/events/71935-usda-report-soybeans-get-a-bearish-surprise.md) | +0.5% | +0.6% |
| CORN | 2017-03-10 | [Crops lower in wake of bearish USDA report](https://feedsoft.ai/events/8404-crops-lower-in-wake-of-bearish-usda-report.md) | +1.9% | +0.8% |
| WHEAT | 2020-03-02 | [Cropping to lead the way in ag comeback \| Farm Online \| ACT](https://feedsoft.ai/events/54102-cropping-to-lead-the-way-in-ag-comeback-farm-online-act.md) | -0.1% | -4.3% |
| WHEAT | 2017-03-10 | [Crops lower in wake of bearish USDA report](https://feedsoft.ai/events/8404-crops-lower-in-wake-of-bearish-usda-report.md) | +0.8% | +0.4% |
| WHEAT | 2024-10-11 | [No big surprises in USDA report, markets trading weather - Brownfield Ag News](https://feedsoft.ai/events/27808-no-big-surprises-in-usda-report-markets-trading-weather-brownfield-ag-news.md) | -0.5% | -1.5% |

## Sources

- farmonline.com.au: https://www.farmonline.com.au/story/6326991/usda-springs-further-surprise-in-crop-report/

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