# AgriMarketing.com - Ag Commodity Prices Surge On USDA's Reduced Yield Forecasts

> USDA slashed 2020 corn and soybean yield forecasts more than the trade expected in its November WASDE, and corn and soybean futures rose 2.35% to 2.82% after the release. The agency lowered global corn, soybean and wheat ending stocks, raised the average corn price by 40 cents to $4.00 per bushel, and projected record corn exports of 2.65 billion bushels.

- Date: 2020-11-11 · published 2020-11-11T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/50096-agrimarketing-com-ag-commodity-prices-surge-on-usda-s-reduced-yield-forecasts
- 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

Reduced yields and record export projections tighten US and global feed grain supplies, supporting prices for corn and related feed ingredients. The higher USDA price forecast reflects the expected firmer market into the new marketing year.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2020-11-16 | 5 | +9.7% | 4.8 | Futures rose 2-3% after the USDA yield cuts, with record corn exports projected, which boosts demand. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2026-04-09 | [USDA raises price estimates for several commodities \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/19801-usda-raises-price-estimates-for-several-commodities-agri-pulse-communications.md) | +0.9% | +1.5% |
| CORN | 2020-08-21 | [Pro Farmer Estimates National Corn and Soybeans Yields Below USDA Forecasts](https://feedsoft.ai/events/51456-pro-farmer-estimates-national-corn-and-soybeans-yields-below-usda-forecasts.md) | +3.5% | +11.2% |
| CORN | 2020-09-11 | [USDA Lowers Corn and Soybean Forecasts \| AgWired](https://feedsoft.ai/events/50974-usda-lowers-corn-and-soybean-forecasts-agwired.md) | +4.5% | +5.3% |
| CORN | 2021-04-01 | [Agriculture ETFs Surge Following a Surprise USDA Report](https://feedsoft.ai/events/47553-agriculture-etfs-surge-following-a-surprise-usda-report.md) | +0.1% | +17.6% |
| CORN | 2023-01-12 | [U.S. reduces corn, soybean harvest views - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/13310-u-s-reduces-corn-soybean-harvest-views-agweek-1-source-for-agriculture-news.md) | +2.2% | +2.2% |
| SOY | 2025-11-18 | [Visualizing USDA's updates to yield forecasts - Pro Farmer](https://feedsoft.ai/events/13040-visualizing-usda-s-updates-to-yield-forecasts-pro-farmer.md) | -2.9% | -8.2% |
| SOY | 2016-05-11 | [With a USDA Shrinking Forecast, Soybean Futures Soared – Schad Commodity](https://feedsoft.ai/events/6524-with-a-usda-shrinking-forecast-soybean-futures-soared-schad-commodity.md) | +0.4% | +9.5% |
| SOY | 2019-11-25 | [AgriMarketing.com - U.S. Soybean Crushings Surge To Record Levels In October](https://feedsoft.ai/events/56126-agrimarketing-com-u-s-soybean-crushings-surge-to-record-levels-in-october.md) | -3.0% | +4.1% |

## Sources

- agrimarketing.com: https://www.agrimarketing.com/s/133449

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