# USDA Reports Summary

> USDA cut its corn yield estimate by 4.9 bushels to 174.6 bushels per acre, lowering production about 415 million bushels to 14.75 billion, toward the low end of expectations. Soybean yield was held near 50 bushels per acre, in line with expectations. Global wheat ending stocks fell to 279.06 million tonnes, below analyst estimates, on lower output from Russia, Canada and the US.

- Date: 2021-08-12 · published 2021-08-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/12611-usda-reports-summary
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A sharp cut to the corn crop tightens US and global feed grain supplies and supports corn prices, while lower wheat stocks add support to wheat. The soybean outlook is neutral, leaving soymeal demand unchanged.

## Read by commodity

- SOY: neutral
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-11-08 | [USDA Reports Summary](https://feedsoft.ai/events/13133-usda-reports-summary.md) | -1.4% | -2.0% |
| CORN | 2019-09-12 | [USDA Reports Summary](https://feedsoft.ai/events/57011-usda-reports-summary.md) | +4.8% | +9.0% |
| CORN | 2020-07-10 | [USDA Reports Summary](https://feedsoft.ai/events/52075-usda-reports-summary.md) | -4.9% | -7.5% |
| CORN | 2022-02-09 | [USDA Reports Summary](https://feedsoft.ai/events/42673-usda-reports-summary.md) | +0.5% | +15.2% |
| CORN | 2020-09-11 | [USDA Reports Review](https://feedsoft.ai/events/51068-usda-reports-review.md) | +4.5% | +5.3% |
| WHEAT | 2017-02-09 | [USDA Reports Flash](https://feedsoft.ai/events/72446-usda-reports-flash.md) | +0.1% | -1.0% |
| WHEAT | 2022-09-30 | [USDA reports trigger corn rally](https://feedsoft.ai/events/39549-usda-reports-trigger-corn-rally.md) | +0.4% | -10.7% |
| WHEAT | 2021-10-11 | [USDA Reports to See Revisions on Oct. 12](https://feedsoft.ai/events/44490-usda-reports-to-see-revisions-on-oct-12.md) | +2.0% | +13.2% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2021/08/12/usda-releases-august-crop-production

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