# Corn set for biggest weekly gain since July as global supplies tighten - Markets - Business Recorder

> Chicago corn was set for its biggest weekly gain since July after USDA cut its 2020/21 US corn production estimate below trade expectations and lowered ending stocks. The International Grains Council also cut its global grain production forecast, with corn down 13 million tonnes. Soybeans and wheat also rose on the week.

- Date: 2021-01-15 · published 2021-01-15T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/49183-corn-set-for-biggest-weekly-gain-since-july-as-global-supplies-tighten-markets
- 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

A smaller US corn crop and lower global supplies tighten the balance sheet and support prices across corn, soybeans and wheat. Feed buyers should expect higher grain costs.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-06-11 | [Wheat slides on record global stocks estimate - Markets - Business Recorder](https://feedsoft.ai/events/52557-wheat-slides-on-record-global-stocks-estimate-markets-business-recorder.md) | +1.0% | +5.3% |
| CORN | 2020-06-30 | [CBOT corn futures climb - Markets - Business Recorder](https://feedsoft.ai/events/12775-cbot-corn-futures-climb-markets-business-recorder.md) | +3.3% | -1.5% |
| CORN | 2021-02-22 | [USDA supply outlook pushes soybeans to second session of gains - Markets - Business Recorder](https://feedsoft.ai/events/48687-usda-supply-outlook-pushes-soybeans-to-second-session-of-gains-markets-business.md) | +1.6% | -3.4% |
| CORN | 2023-05-17 | [France forecasts drop in maize area as drought, costs deter farmers - Markets - Business Recorder](https://feedsoft.ai/events/35918-france-forecasts-drop-in-maize-area-as-drought-costs-deter-farmers-markets.md) | +2.4% | +0.5% |
| CORN | 2021-06-24 | [EU trims 2021/22 wheat harvest and stocks forecasts - Markets - Business Recorder](https://feedsoft.ai/events/46520-eu-trims-2021-22-wheat-harvest-and-stocks-forecasts-markets-business-recorder.md) | +4.6% | -5.8% |
| SOY | 2020-06-30 | [CBOT corn futures climb - Markets - Business Recorder](https://feedsoft.ai/events/12775-cbot-corn-futures-climb-markets-business-recorder.md) | +3.3% | +3.5% |
| SOY | 2021-02-22 | [USDA supply outlook pushes soybeans to second session of gains - Markets - Business Recorder](https://feedsoft.ai/events/48687-usda-supply-outlook-pushes-soybeans-to-second-session-of-gains-markets-business.md) | +2.0% | +2.8% |
| SOY | 2023-07-03 | [Palm oil ends more than 5pc higher on supply worries - Markets - Business Recorder](https://feedsoft.ai/events/6544-palm-oil-ends-more-than-5pc-higher-on-supply-worries-markets-business-recorder.md) | -3.2% | -7.2% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40051868

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