# Agriculture Prices in Freefall – Fundamental Analytics

> Front-month wheat fell below $5.38 after USDA raised its all-wheat production projection by more than 130 million bushels. Corn closed near $4 with USDA forecasting a 240 million bushel increase in the crop, and soybeans fell to a 10-week low below $11.35.

- Date: 2024-07-15 · published 2024-07-15T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/4455-agriculture-prices-in-freefall-fundamental-analytics
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A larger USDA crop estimate and record US corn stocks point to ample feed grain supply and lower feed costs, while weak export demand adds further pressure.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2024-07-14 | 1 | -5.0% | -5.0 | Broad ag price slump with soybeans falling to a 10-week low following bearish WASDE grain supply revisions fed sentiment. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2023-12-20 | [Agricultural prices fell in the third quarter of 2023 - News articles - Eurostat](https://feedsoft.ai/events/32760-agricultural-prices-fell-in-the-third-quarter-of-2023-news-articles-eurostat.md) | +0.8% | +1.1% |
| WHEAT | 2024-04-16 | [USDA predicts lower crop prices for key commodities in 2024 \| Agriculture Dive](https://feedsoft.ai/events/30684-usda-predicts-lower-crop-prices-for-key-commodities-in-2024-agriculture-dive.md) | -0.6% | +2.0% |
| WHEAT | 2017-03-24 | [Grain estimate. More wheat in France \| Agriculture](https://feedsoft.ai/events/71952-grain-estimate-more-wheat-in-france-agriculture.md) | +2.3% | +1.5% |
| WHEAT | 2024-02-06 | [US Department of Agriculture grain report hits Australian prices \| The Land \| NSW](https://feedsoft.ai/events/31626-us-department-of-agriculture-grain-report-hits-australian-prices-the-land-nsw.md) | -3.6% | -0.2% |
| WHEAT | 2022-08-05 | [Major fall in global food prices for July, but future supply worries remain \| UN News](https://feedsoft.ai/events/40157-major-fall-in-global-food-prices-for-july-but-future-supply-worries-remain-un.md) | +7.3% | -4.2% |
| CORN | 2017-03-03 | [Agricultural Policy Analysis Center](https://feedsoft.ai/events/72027-agricultural-policy-analysis-center.md) | -3.2% | -2.8% |
| CORN | 2024-04-16 | [USDA predicts lower crop prices for key commodities in 2024 \| Agriculture Dive](https://feedsoft.ai/events/30684-usda-predicts-lower-crop-prices-for-key-commodities-in-2024-agriculture-dive.md) | -0.3% | +3.3% |
| CORN | 2024-02-06 | [US Department of Agriculture grain report hits Australian prices \| The Land \| NSW](https://feedsoft.ai/events/31626-us-department-of-agriculture-grain-report-hits-australian-prices-the-land-nsw.md) | -1.7% | +0.3% |

## Sources

- fundamentalanalytics.com: https://www.fundamentalanalytics.com/agriculture-prices-in-freefall/

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