# The USDA tried, but it still missed the mark on China - Grain Central

> A Grain Central commentary says the February WASDE failed to deliver the bullish news the market expected. Global corn demand was cut 2.54 million tonnes despite strong Chinese buying, and corn stocks rose, while soybean and wheat ending stocks tightened. Brazil and Argentina corn forecasts were left unchanged.

- Date: 2021-02-16 · published 2021-02-16T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/48593-the-usda-tried-but-it-still-missed-the-mark-on-china-grain-central
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Lower corn demand and higher stocks weigh on corn prices, while tighter soybean and wheat stocks support those markets.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2018-08-28 | [Sell the rumour, buy the fact - Grain Central](https://feedsoft.ai/events/63611-sell-the-rumour-buy-the-fact-grain-central.md) | +0.8% | +2.6% |
| CORN | 2017-04-18 | [The low price cycle pedals on - Grain Central](https://feedsoft.ai/events/71474-the-low-price-cycle-pedals-on-grain-central.md) | -0.6% | +1.5% |
| CORN | 2017-08-15 | [The bears are back in town… - Grain Central](https://feedsoft.ai/events/69417-the-bears-are-back-in-town-grain-central.md) | -3.4% | -5.0% |
| CORN | 2020-05-13 | [USDA forecasts intense competition on wheat, corn - Grain Central](https://feedsoft.ai/events/53176-usda-forecasts-intense-competition-on-wheat-corn-grain-central.md) | -0.3% | +1.5% |
| CORN | 2018-08-02 | [Ukraine grain juggernaut continues to rise in the East - Grain Central](https://feedsoft.ai/events/63392-ukraine-grain-juggernaut-continues-to-rise-in-the-east-grain-central.md) | +9.3% | -3.4% |
| SOY | 2020-10-06 | [USDA drops a bombshell and the markets explode - Grain Central](https://feedsoft.ai/events/11634-usda-drops-a-bombshell-and-the-markets-explode-grain-central.md) | +1.2% | +2.9% |
| SOY | 2023-01-13 | [USDA's WASDE trims South American corn crops - Grain Central](https://feedsoft.ai/events/37741-usda-s-wasde-trims-south-american-corn-crops-grain-central.md) | -1.5% | +0.8% |
| SOY | 2020-10-01 | [Grain Bins Not As Full At Close Of Marketing Year - Central Mo Info](https://feedsoft.ai/events/50701-grain-bins-not-as-full-at-close-of-marketing-year-central-mo-info.md) | +2.7% | +3.3% |

## Sources

- graincentral.com: https://www.graincentral.com/markets/the-usda-tried-but-it-still-missed-the-mark-on-china/

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