# Drought Scorches U.S. Corn, Soy, and Wheat Crops

> USDA estimated the 2021 corn crop at 14.75 billion bushels and soybeans at 4.34 billion, both among the largest on record. The wheat crop was forecast at 1.7 billion bushels, the smallest in 19 years due to drought in the Northern Plains and Upper Midwest.

- Date: 2021-08-13 · published 2021-08-13T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/45410-drought-scorches-u-s-corn-soy-and-wheat-crops
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Large corn and soybean crops point to ample feed supply and firmer wheat prices as a smaller crop tightens wheat supplies. Feed buyers face cheaper corn and soy but higher wheat costs.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2016-04-18 | [Corn and wheat will drop to 10-year low](https://feedsoft.ai/events/10297-corn-and-wheat-will-drop-to-10-year-low.md) | -0.1% | +3.7% |
| CORN | 2023-09-15 | [USDA report triggers corn and soybean price drop, wheat remai ...](https://feedsoft.ai/events/34044-usda-report-triggers-corn-and-soybean-price-drop-wheat-remai.md) | -7.1% | -4.6% |
| CORN | 2017-08-11 | [U.S. grains: Wheat falls; corn, soy firm - Grainews](https://feedsoft.ai/events/69495-u-s-grains-wheat-falls-corn-soy-firm-grainews.md) | -1.6% | -4.0% |
| CORN | 2020-04-13 | [USDA report: Larger U.S. corn, soy, wheat stocks](https://feedsoft.ai/events/53602-usda-report-larger-u-s-corn-soy-wheat-stocks.md) | -5.4% | -6.1% |
| CORN | 2021-03-09 | [U.S. grains: Wheat and soy climb, corn sags after USDA data - Manitoba Co-operator](https://feedsoft.ai/events/48067-u-s-grains-wheat-and-soy-climb-corn-sags-after-usda-data-manitoba-co-operator.md) | -10.3% | -1.3% |
| SOY | 2016-04-18 | [Corn and wheat will drop to 10-year low](https://feedsoft.ai/events/10297-corn-and-wheat-will-drop-to-10-year-low.md) | +3.2% | +10.4% |
| SOY | 2023-09-15 | [USDA report triggers corn and soybean price drop, wheat remai ...](https://feedsoft.ai/events/34044-usda-report-triggers-corn-and-soybean-price-drop-wheat-remai.md) | -3.7% | -4.0% |
| SOY | 2022-02-24 | [USDA cuts corn, raises soy and wheat acreage for 2022](https://feedsoft.ai/events/13389-usda-cuts-corn-raises-soy-and-wheat-acreage-for-2022.md) | +0.1% | +2.6% |

## Sources

- agriculture.com: https://www.agriculture.com/news/crops/drought-scorches-us-corn-soy-and-wheat-crops

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