# Soy futures surge to new four-year high as USDA slashes inventory estimates | Reuters

> Chicago soybean futures rose to a four-year high and corn topped a one-year high after USDA's monthly report showed US soybean stocks falling to their smallest in seven years. The report reflected lower US harvest expectations and strong exports, especially to China.

- Date: 2020-11-10 · published 2020-11-10T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/12422-soy-futures-surge-to-new-four-year-high-as-usda-slashes-inventory-estimates
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A sharp cut to US ending stocks tightens near-term supply for soybean meal and corn feed buyers, pushing feed input costs higher.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-07-01 | [U.S. grains: Soy soars after USDA slashes plantings estimate - Grainews](https://feedsoft.ai/events/35069-u-s-grains-soy-soars-after-usda-slashes-plantings-estimate-grainews.md) | -3.2% | -7.2% |
| SOY | 2026-06-01 | [USDA Releases First New-Crop Estimates in Today's WASDE](https://feedsoft.ai/events/19197-usda-releases-first-new-crop-estimates-in-today-s-wasde.md) | -5.5% | -6.6% |
| SOY | 2023-03-09 | [Argentina soy harvest could be worst in decades as forecast slashed \| Reuters](https://feedsoft.ai/events/13978-argentina-soy-harvest-could-be-worst-in-decades-as-forecast-slashed-reuters.md) | -2.5% | -1.0% |
| SOY | 2019-10-10 | [Corn futures fall after higher U.S. yield estimate surprises traders \| Financial Post](https://feedsoft.ai/events/56587-corn-futures-fall-after-higher-u-s-yield-estimate-surprises-traders-financial.md) | +0.5% | -0.9% |
| SOY | 2016-05-09 | [USDA slashes soy supply view; prices surge - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/6519-usda-slashes-soy-supply-view-prices-surge-agweek-1-source-for-agriculture-news.md) | +2.8% | +10.9% |
| CORN | 2022-08-25 | [EU slashes maize crop forecast again, increases wheat harvest estimate \| Reuters](https://feedsoft.ai/events/39992-eu-slashes-maize-crop-forecast-again-increases-wheat-harvest-estimate-reuters.md) | +1.2% | +1.0% |
| CORN | 2024-03-28 | [USDA Estimates Farmers Will Plant 90M Corn Acres, 86.5M Soybean Acres This Year](https://feedsoft.ai/events/31261-usda-estimates-farmers-will-plant-90m-corn-acres-86-5m-soybean-acres-this-year.md) | -2.0% | -3.8% |
| CORN | 2018-12-07 | [Markets React Favorably to USDA's December Estimates - All Ag News](https://feedsoft.ai/events/61608-markets-react-favorably-to-usda-s-december-estimates-all-ag-news.md) | +0.5% | +2.0% |

## Sources

- reuters.com: https://www.reuters.com/article/global-grains/grains-soy-futures-surge-to-new-four-year-high-as-usda-slashes-inventory-estimates-idUSL1N2HW2R5/

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