# Market turns quiet after report - Agweek | #1 source for agriculture news, farming, markets

> USDA's August report cut the US wheat crop to 1.697 billion bushels, the lowest estimate since 2002, and reduced ending stocks to 627 million bushels, below expectations. Hard red winter wheat production was also below expectations, and world wheat production was cut sharply. Corn was viewed as friendly, while soybeans were slightly negative.

- Date: 2021-08-20 · published 2021-08-20T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/12608-market-turns-quiet-after-report-agweek-1-source-for-agriculture-news-farming
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Lower US and world wheat supplies tighten global stocks and support prices, particularly for hard red winter wheat used in feed rations. The friendlier corn numbers add modest support, while the bearish soybean outlook caps those gains.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2017-02-13 | [USDA Report Cuts Stocks - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/72450-usda-report-cuts-stocks-agweek-1-source-for-agriculture-news-farming-markets.md) | -1.1% | -1.8% |
| WHEAT | 2017-01-22 | [Post-USDA report fallout in markets - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/72940-post-usda-report-fallout-in-markets-agweek-1-source-for-agriculture-news.md) | -1.3% | +4.1% |
| WHEAT | 2019-09-15 | [Markets have bullish reaction to USDA report - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/9892-markets-have-bullish-reaction-to-usda-report-agweek-1-source-for-agriculture.md) | +2.1% | +1.2% |
| WHEAT | 2021-05-21 | [Surprises made May USDA report more negative than expected - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/12366-surprises-made-may-usda-report-more-negative-than-expected-agweek-1-source-for.md) | -1.7% | +2.2% |
| WHEAT | 2019-12-06 | [Farming News - ADM Agriculture Wheat Market Report](https://feedsoft.ai/events/11059-farming-news-adm-agriculture-wheat-market-report.md) | -3.5% | -0.6% |
| KWHEAT | 2017-01-22 | [Post-USDA report fallout in markets - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/72940-post-usda-report-fallout-in-markets-agweek-1-source-for-agriculture-news.md) | -2.0% | +3.0% |
| KWHEAT | 2023-01-12 | [U.S. reduces corn, soybean harvest views - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/13310-u-s-reduces-corn-soybean-harvest-views-agweek-1-source-for-agriculture-news.md) | +1.2% | +6.9% |
| KWHEAT | 2017-03-06 | [USDA releases new crop estimates for major crops - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/71835-usda-releases-new-crop-estimates-for-major-crops-agweek-1-source-for.md) | -3.6% | -9.0% |

## Sources

- agweek.com: https://www.agweek.com/business/market-turns-quiet-after-report

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