# Soy stumbles on bearish USDA report

> USDA's Quarterly Grain Stocks report found 81 million more bushels of 2020/21 soybeans than markets expected. Corn stocks were 1.24 billion bushels, above trade estimates, and continued downward revisions to the US wheat crop pushed Chicago, Kansas City and Minneapolis wheat up $0.12-$0.21 a bushel.

- Date: 2021-09-30 · published 2021-09-30T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/45036-soy-stumbles-on-bearish-usda-report
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

A larger-than-expected soybean carryout weakens the old-crop balance sheet, while the wheat revisions tighten supplies and support prices.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2017-03-09 | [USDA Report: Soybeans get a bearish surprise](https://feedsoft.ai/events/71935-usda-report-soybeans-get-a-bearish-surprise.md) | -1.3% | -6.6% |
| SOY | 2022-03-31 | [USDA Report Bullish for Corn, Bearish for Soybeans](https://feedsoft.ai/events/42296-usda-report-bullish-for-corn-bearish-for-soybeans.md) | -2.7% | +2.6% |
| SOY | 2023-07-12 | [USDA Report Bearish News for Corn and Soybeans](https://feedsoft.ai/events/34982-usda-report-bearish-news-for-corn-and-soybeans.md) | -1.9% | -6.0% |
| SOY | 2016-09-12 | [USDA Report: Larger soybean crop sparks bearish reaction](https://feedsoft.ai/events/10184-usda-report-larger-soybean-crop-sparks-bearish-reaction.md) | -3.1% | -4.1% |
| SOY | 2017-03-10 | [Crops lower in wake of bearish USDA report](https://feedsoft.ai/events/8404-crops-lower-in-wake-of-bearish-usda-report.md) | +0.1% | -5.9% |
| CORN | 2017-03-09 | [USDA Report: Soybeans get a bearish surprise](https://feedsoft.ai/events/71935-usda-report-soybeans-get-a-bearish-surprise.md) | +0.5% | +0.6% |
| CORN | 2023-07-12 | [USDA Report Bearish News for Corn and Soybeans](https://feedsoft.ai/events/34982-usda-report-bearish-news-for-corn-and-soybeans.md) | -5.7% | -8.7% |
| CORN | 2016-09-12 | [USDA Report: Larger soybean crop sparks bearish reaction](https://feedsoft.ai/events/10184-usda-report-larger-soybean-crop-sparks-bearish-reaction.md) | +1.6% | +4.4% |

## Sources

- farmprogress.com: https://www.farmprogress.com/corn/soy-stumbles-on-bearish-usda-report

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