# Market Perspectives - August 29, 2024 - U.S. Grains & BioProducts Council

> The Pro Farmer crop tour found record corn yield potential in Iowa, but Minnesota came in well below last year and its three-year average. The tour projected a US corn crop of 14.979 billion bushels, below USDA's 15.146 billion. Eastern Corn Belt prospects were described as strong, while western areas were more variable.

- Date: 2024-08-29 · published 2024-08-29T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/28817-market-perspectives-august-29-2024-u-s-grains-and-bioproducts-council
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

The tour's national estimate is below USDA's, and USDA may cut Minnesota yields, which could tighten the balance sheet. Strong eastern yields still point to ample supply, so the net price effect is mixed.

## Read by commodity

- SOY: neutral
- CORN: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2019-12-12 | [Market Perspectives – December 12, 2019 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/9219-market-perspectives-december-12-2019-u-s-grains-and-bioproducts-council.md) | +5.5% | +5.7% |
| CORN | 2024-02-29 | [Grains Report 02/29/2024 - Market InsightsMarket Insights](https://feedsoft.ai/events/31705-grains-report-02-29-2024-market-insightsmarket-insights.md) | +3.7% | +3.8% |
| CORN | 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) | -2.5% | -6.5% |
| CORN | 2019-01-01 | [Market Reaction to USDA’s August Corn Crop Reports](https://feedsoft.ai/events/60954-market-reaction-to-usda-s-august-corn-crop-reports.md) | +1.4% | +1.8% |
| CORN | 2020-08-26 | [Coceral cuts EU grain harvest 2020 again market report](https://feedsoft.ai/events/51572-coceral-cuts-eu-grain-harvest-2020-again-market-report.md) | +1.5% | +7.0% |
| SOY | 2020-07-16 | [Market Perspectives – July 16, 2020 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/4467-market-perspectives-july-16-2020-u-s-grains-and-bioproducts-council.md) | +1.5% | +0.5% |
| SOY | 2017-12-13 | [Market Perspectives December 14, 2017 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/8426-market-perspectives-december-14-2017-u-s-grains-and-bioproducts-council.md) | -2.0% | -3.6% |
| 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% |

## Sources

- grains.org: https://grains.org/market_perspectives/market-perspectives-august-29-2024/

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