# Soybeans firm ahead of US acreage report; corn eases - Markets - Business Recorder

> Chicago soybean futures edged higher on June 30 ahead of the USDA acreage and stocks report, while corn eased. Dry U.S. weather forecasts and slim grain stocks were underpinning prices, and Russian wheat output expectations pressured wheat.

- Date: 2021-06-30 · published 2021-06-30T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/46616-soybeans-firm-ahead-of-us-acreage-report-corn-eases-markets-business-recorder
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Dry weather and tight stocks support feed grain and soybean prices, while expected higher Russian wheat output weighs on wheat values for feed buyers.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2021-06-29 | 1 | +6.6% | 3.6 | Pre-report positioning, with dry forecasts and slim stocks supporting prices, set up the acreage-driven jump. |
| SOY | 2021-07-01 | 5 | +9.2% | 2.9 | Soybeans firmed on June 30 ahead of the report on dry forecasts and slim stocks, a supportive setup for the move. |

## Sources

- brecorder.com: https://www.brecorder.com/news/40103961

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