# 3rd July 2024 Commodity Market Report - CirQlar Nutrition

> The USDA quarterly grain stocks report was bearish for corn, with stocks at four-year highs, and mixed for soybeans, with stocks two million tonnes above expectations but planted area 0.6 million acres below. Crop ratings are at the top of the five-year range, and Argentine farmers have sold only 29% of their crop versus 66% in Brazil.

- Date: 2024-07-03 · published 2024-07-03T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/13912-3rd-july-2024-commodity-market-report-cirqlar-nutrition
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Large US corn stocks and favorable crop ratings weigh on corn prices. Slow Argentine soybean selling supports near-term soy meal, while expected Canadian rapeseed supply growth adds pressure on rapeseed meal.

## Read by commodity

- SBM: neutral
- SOY: neutral
- CORN: bearish ▼
- CANMEAL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-12-05 | [Grains Report 12/05/2024 - Market InsightsMarket Insights](https://feedsoft.ai/events/27010-grains-report-12-05-2024-market-insightsmarket-insights.md) | +4.3% | +5.8% |
| CORN | 2020-03-23 | [COCERAL cuts 2020 EU grain estimate market report](https://feedsoft.ai/events/54066-coceral-cuts-2020-eu-grain-estimate-market-report.md) | -0.8% | -5.0% |
| CORN | 2023-08-29 | [Arable Market Report − 29 August 2023 \| AHDB](https://feedsoft.ai/events/34637-arable-market-report-29-august-2023-ahdb.md) | -2.8% | -9.5% |
| CORN | 2019-07-11 | [Grain Transportation Report, July 11, 2019](https://feedsoft.ai/events/58280-grain-transportation-report-july-11-2019.md) | +0.2% | -5.9% |
| CORN | 2024-03-08 | [MARCH 2024 WASDE REPORT SUMMARY AND NOTES: - CIH](https://feedsoft.ai/events/31131-march-2024-wasde-report-summary-and-notes-cih.md) | -0.3% | -3.1% |
| SOY | 2024-01-30 | [Grains Report 01/30/2024 - Market InsightsMarket Insights](https://feedsoft.ai/events/32157-grains-report-01-30-2024-market-insightsmarket-insights.md) | +0.2% | -5.3% |
| SOY | 2025-07-03 | [Grain Transportation Report, July 3, 2025](https://feedsoft.ai/events/16440-grain-transportation-report-july-3-2025.md) | -3.6% | -8.4% |
| SOY | 2022-07-28 | [Grain Transportation Report, July 28, 2022](https://feedsoft.ai/events/16694-grain-transportation-report-july-28-2022.md) | -1.3% | -1.1% |

## Sources

- cirqlar-nutrition.co.uk: https://www.cirqlar-nutrition.co.uk/commodity-report/3rd-july-2024-commodity-market-report

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