# Markets firm after Tuesday’s breakdown

> Grain futures recovered overnight after Tuesday's sharp selloff, as short covering and bargain hunting lifted prices. Production estimates ahead of USDA's August report, along with crop ratings and vegetation models, point to corn yields below USDA's trend forecast.

- Date: 2017-08-02 · published 2017-08-02T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/12266-markets-firm-after-tuesday-s-breakdown
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Expectations of lower corn yields than USDA's trend figure support corn prices into the August report. A lack of weather threats in the near-term forecast keeps the rebound limited.

## Read by commodity

- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-12-26 | [Brazil Forecasts Push Grain Markets Higher \| Tuesday, December 26, 2023](https://feedsoft.ai/events/11280-brazil-forecasts-push-grain-markets-higher-tuesday-december-26-2023.md) | -0.9% | -3.8% |
| CORN | 2017-06-09 | [Weather fears bolster grain markets against](https://feedsoft.ai/events/70424-weather-fears-bolster-grain-markets-against.md) | -1.0% | +0.3% |
| CORN | 2022-01-21 | [The market rally after the reports - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/10893-the-market-rally-after-the-reports-agweek-1-source-for-agriculture-news-farming.md) | +1.4% | +6.9% |
| CORN | 2019-05-30 | [International grain markets catch fire \| Farm Online \| ACT](https://feedsoft.ai/events/8255-international-grain-markets-catch-fire-farm-online-act.md) | -0.9% | +6.0% |
| CORN | 2022-03-21 | [La Niña could spark fire in already-overheated markets](https://feedsoft.ai/events/42198-la-nina-could-spark-fire-in-already-overheated-markets.md) | +1.5% | +11.2% |

## Sources

- farmprogress.com: https://www.farmprogress.com/marketing/markets-firm-after-tuesday-s-breakdown

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