# Estimates suggest better crop prospects for new season - McCreath Simpson & Prentice

> The latest USDA report raised 2020/21 global wheat production by over 3 million tonnes to 776.78 million tonnes, mainly on Australian gains, and left US and world corn and soybean estimates largely unchanged. Improving US winter wheat ratings and higher Russian wheat estimates have eased prices as new-crop prospects improve.

- Date: 2021-04-06 · published 2021-04-06T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/47557-estimates-suggest-better-crop-prospects-for-new-season-mccreath-simpson-and
- 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

Better Northern Hemisphere wheat prospects and larger global supplies weigh on wheat values, while corn and soybean balance sheets stay tight.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-05-12 | [Markets mixed on new crop estimates](https://feedsoft.ai/events/47043-markets-mixed-on-new-crop-estimates.md) | -1.5% | -4.7% |
| WHEAT | 2024-07-15 | [WASDE update: Better supply prospects for wheat and corn \| articles \| ING THINK](https://feedsoft.ai/events/29205-wasde-update-better-supply-prospects-for-wheat-and-corn-articles-ing-think.md) | -3.2% | -2.3% |
| WHEAT | 2025-09-01 | [ABARES lifts production estimates for major crops - Grain Central](https://feedsoft.ai/events/22821-abares-lifts-production-estimates-for-major-crops-grain-central.md) | -0.6% | -1.2% |
| WHEAT | 2021-03-18 | [The higher forecast production in the new season lowers the price of wheat old crop](https://feedsoft.ai/events/48191-the-higher-forecast-production-in-the-new-season-lowers-the-price-of-wheat-old.md) | +0.9% | -3.3% |
| WHEAT | 2019-06-17 | [Mixed prospects for Australian winter crop: ABARES - Grain Central](https://feedsoft.ai/events/58543-mixed-prospects-for-australian-winter-crop-abares-grain-central.md) | -6.1% | -8.7% |
| CORN | 2026-06-01 | [USDA Releases First New-Crop Estimates in Today's WASDE](https://feedsoft.ai/events/19197-usda-releases-first-new-crop-estimates-in-today-s-wasde.md) | -5.5% | -10.2% |
| CORN | 2024-11-13 | [France raises wheat, maize crop estimates, cuts sugar beet - Markets - Business Recorder](https://feedsoft.ai/events/27352-france-raises-wheat-maize-crop-estimates-cuts-sugar-beet-markets-business.md) | -0.5% | +1.0% |
| CORN | 2024-03-13 | [Brazil soy, corn crop estimates widen further after weather woes](https://feedsoft.ai/events/13581-brazil-soy-corn-crop-estimates-widen-further-after-weather-woes.md) | +1.5% | -5.0% |

## Sources

- mspagriculture.co.uk: https://mspagriculture.co.uk/insight/2021/april/estimates-suggest-better-crop-prospects-for-new-season/

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