# IFES 2020: 2021 Market Outlook for Corn and Soybeans - farmdoc daily

> A University of Illinois farmdoc daily summary says corn and soybean prices rose more than 30% from mid-August lows, driven mainly by strong Chinese export demand. USDA cut its U.S. corn crop estimate by almost 800 million bushels between August and November, and soybeans by over 250 million bushels.

- Date: 2020-12-29 · published 2020-12-29T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/49487-ifes-2020-2021-market-outlook-for-corn-and-soybeans-farmdoc-daily
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Strong export commitments combined with a smaller crop underpin current prices, and the outlook for the 2021 rally will depend on how long export demand holds.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲

## Sources

- farmdocdaily.illinois.edu: https://farmdocdaily.illinois.edu/2020/12/ifes-2020-2021-market-outlook-for-corn-and-soybeans.html

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