# USDA reports trigger corn rally

> USDA's NASS reported U.S. corn stocks of 1.38 billion bushels as of September 1, well below pre-report trade estimates of 1.512 billion. Soybean ending stocks came in larger than expected, and cuts to U.S. wheat production in the Small Grains Summary lifted wheat prices.

- Date: 2022-09-30 · published 2022-09-30T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/39549-usda-reports-trigger-corn-rally
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Tighter-than-expected corn stocks point to firmer feed grain supplies and support corn prices, while bigger soybean stocks weigh on soybeans and soymeal values for feed buyers.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-08-12 | [USDA Reports Review](https://feedsoft.ai/events/13340-usda-reports-review.md) | -0.7% | -1.6% |
| CORN | 2020-09-11 | [USDA Reports Review](https://feedsoft.ai/events/51068-usda-reports-review.md) | +4.5% | +5.3% |
| CORN | 2017-02-09 | [USDA Reports Flash](https://feedsoft.ai/events/72446-usda-reports-flash.md) | +1.2% | -0.8% |
| CORN | 2018-06-12 | [USDA Reports Flash](https://feedsoft.ai/events/64479-usda-reports-flash.md) | -2.1% | -4.6% |
| CORN | 2018-04-10 | [USDA Reports Flash](https://feedsoft.ai/events/65481-usda-reports-flash.md) | -0.6% | +2.5% |
| SOY | 2017-03-09 | [USDA Reports Flash](https://feedsoft.ai/events/71937-usda-reports-flash.md) | -1.3% | -6.6% |
| SOY | 2018-09-12 | [USDA Reports Update](https://feedsoft.ai/events/62875-usda-reports-update.md) | -0.8% | +5.2% |
| SOY | 2016-12-09 | [USDA Reports Flash](https://feedsoft.ai/events/73424-usda-reports-flash.md) | +0.2% | -3.0% |

## Sources

- farmprogress.com: https://www.farmprogress.com/marketing/usda-reports-trigger-corn-rally

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