# July supply, demand report a boost to corn and hit to wheat - Agweek | #1 source for agriculture news, farming, markets

> Analysts on the Agweek market wrap said the July USDA supply and demand report was better for corn than expected, driven by a significant drop in old-crop stocks from higher feed demand and exports. The report was negative for wheat, with stocks up about 100 million bushels and record North Dakota spring wheat yields. Soybeans were seen as neutral.

- Date: 2024-07-12 · published 2024-07-12T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/29203-july-supply-demand-report-a-boost-to-corn-and-hit-to-wheat-agweek-1-source-for
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Tighter old-crop corn stocks support corn values for feed buyers, while higher wheat stocks keep wheat prices under pressure. The market's limited wheat sell-off reflects the offsetting corn support.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-08-11 | [August WASDE report friendly to markets, especially corn - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/45500-august-wasde-report-friendly-to-markets-especially-corn-agweek-1-source-for.md) | +1.1% | -7.3% |
| CORN | 2021-08-20 | [Market turns quiet after report - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/12608-market-turns-quiet-after-report-agweek-1-source-for-agriculture-news-farming.md) | +0.4% | -6.4% |
| CORN | 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) | -0.4% | +0.5% |
| CORN | 2018-03-11 | [USDA report perplexes - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/65959-usda-report-perplexes-agweek-1-source-for-agriculture-news-farming-markets.md) | +1.7% | +5.0% |
| CORN | 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) | +2.2% | +2.2% |
| WHEAT | 2017-07-16 | [Supply report hurts markets - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/69893-supply-report-hurts-markets-agweek-1-source-for-agriculture-news-farming-markets.md) | -1.0% | -1.4% |
| WHEAT | 2017-12-17 | [Reports confirm large supplies - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/8429-reports-confirm-large-supplies-agweek-1-source-for-agriculture-news-farming.md) | +0.3% | +0.8% |
| WHEAT | 2023-08-11 | [August WASDE cuts export expectations for corn, soybeans and wheat - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/12249-august-wasde-cuts-export-expectations-for-corn-soybeans-and-wheat-agweek-1.md) | -1.5% | -7.4% |

## Sources

- agweek.com: https://www.agweek.com/business/markets/july-supply-demand-report-a-boost-to-corn-and-hit-to-wheat

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