# Corn, soy extend rally after USDA acreage surprise | Financial Post

> Chicago corn rose more than 3% and soybeans rallied after USDA acreage data came in below trade expectations, with corn planting at 92.692 million acres and soybeans at 87.555 million. Hot, dry weather in northern and western growing areas added supply concerns. Wheat edged higher as the rally in corn and soybeans offset pressure from winter wheat harvest.

- Date: 2021-06-30 · published 2021-06-30T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/46087-corn-soy-extend-rally-after-usda-acreage-surprise-financial-post
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Lower-than-expected US acreage and heat risk tighten the outlook for corn and soybean supplies, raising feed grain and meal costs for buyers. Weather remains the key price driver through the growing season.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2021-07-01 | 5 | +9.2% | 2.9 | Soybean acreage of 87.555M came in below trade expectations on June 30, and hot, dry weather in the north and west added supply concerns, driving the rally. |
| SOY | 2021-06-29 | 1 | +6.6% | 3.6 | Soybean acreage of 87.555M acres came in below trade expectations, and hot, dry weather in northern growing areas added supply concerns, so soybeans rallied. |
| SBM | 2021-06-29 | 1 | +6.1% | 4.5 | Acreage below trade expectations plus hot, dry weather in growing areas fueled a rally in soybeans and corn, which supports meal prices. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2026-04-10 | [USDA Raises Wheat, Corn and Soy Price Estimates - Farm Policy News](https://feedsoft.ai/events/19746-usda-raises-wheat-corn-and-soy-price-estimates-farm-policy-news.md) | +3.8% | +0.3% |
| WHEAT | 2024-11-08 | [USDA Surprisingly Lowers Corn and Soybean Yield and Ending Stocks in WASDE - AgWeb](https://feedsoft.ai/events/13135-usda-surprisingly-lowers-corn-and-soybean-yield-and-ending-stocks-in-wasde-agweb.md) | -1.6% | -1.8% |
| WHEAT | 2019-08-13 | [USDA springs further surprise in crop report \| Farm Online \| ACT](https://feedsoft.ai/events/11740-usda-springs-further-surprise-in-crop-report-farm-online-act.md) | -1.7% | -3.9% |
| WHEAT | 2017-03-29 | [Soybeans down, corn up after USDA numbers - Brownfield Ag News](https://feedsoft.ai/events/72023-soybeans-down-corn-up-after-usda-numbers-brownfield-ag-news.md) | +0.3% | +1.0% |
| WHEAT | 2020-11-06 | [French soft wheat sowing 76% complete by Nov. 2 \| Financial Post](https://feedsoft.ai/events/50098-french-soft-wheat-sowing-76-complete-by-nov-2-financial-post.md) | +0.0% | -6.3% |
| CORN | 2020-06-30 | [Corn, soy climb on smaller-than-expected USDA acreage view \| Financial Post](https://feedsoft.ai/events/52675-corn-soy-climb-on-smaller-than-expected-usda-acreage-view-financial-post.md) | +3.3% | -1.5% |
| CORN | 2021-06-30 | [Smaller-than-expected U.S. corn, soy acreage stokes price rally](https://feedsoft.ai/events/46614-smaller-than-expected-u-s-corn-soy-acreage-stokes-price-rally.md) | -0.4% | -10.6% |
| CORN | 2019-09-10 | [Lower U.S. crop condition rating lifts corn, soy and wheat also rise \| Financial Post](https://feedsoft.ai/events/9146-lower-u-s-crop-condition-rating-lifts-corn-soy-and-wheat-also-rise-financial.md) | +6.7% | +9.3% |

## Sources

- apnews.com: https://apnews.com/article/financial-markets-business-f86013d3c43083c3556a5140d35413e3
- financialpost.com: https://financialpost.com/pmn/business-pmn/corn-soy-extend-rally-after-usda-acreage-surprise

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