# Market Perspectives – March 11, 2021 - U.S. Grains & BioProducts Council

> May corn futures fell about 7 cents (1.3%) in the week after USDA's March WASDE left the U.S. corn, soybean and wheat balance sheets unchanged. Funds and weak longs liquidated positions, pushing futures toward technical support. Attention shifted to the March Prospective Plantings report.

- Date: 2021-03-11 · published 2021-03-11T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/5118-market-perspectives-march-11-2021-u-s-grains-and-bioproducts-council
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [DDGS](https://feedsoft.ai/c/DDGS.md), [Barge Freight (St. Louis)](https://feedsoft.ai/c/BARGE.md)

## Why it matters

With no bullish change in U.S. balance sheets, prices lost support from fund buying, which points to softer corn prices until new acreage data arrives.

## Read by commodity

- CORN: bearish ▼
- DDGS: bearish ▼
- BARGE: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2021-03-15 | 5 | -10.3% | -4.5 | May corn fell after the unchanged WASDE as funds and weak longs liquidated positions toward technical support, which fits the sharp decline. |
| CORN | 2021-03-17 | 5 | -9.6% | -4.1 | May corn fell as USDA's March WASDE left balance sheets unchanged, triggering fund liquidation and a move toward technical support. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-05-18 | [Market Perspectives – May 18, 2023 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/7839-market-perspectives-may-18-2023-u-s-grains-and-bioproducts-council.md) | +5.6% | +2.2% |
| CORN | 2020-07-16 | [Market Perspectives – July 16, 2020 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/4467-market-perspectives-july-16-2020-u-s-grains-and-bioproducts-council.md) | +0.8% | -0.4% |
| CORN | 2023-12-14 | [Market Perspectives – December 14, 2023 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/9996-market-perspectives-december-14-2023-u-s-grains-and-bioproducts-council.md) | +1.5% | +1.2% |
| CORN | 2017-03-09 | [Market Perspectives March 9, 2017 - Page 7 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/72080-market-perspectives-march-9-2017-page-7-of-10-u-s-grains-and-bioproducts-council.md) | +0.5% | +0.6% |
| CORN | 2024-09-26 | [Market Perspectives - September 26, 2024 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/28411-market-perspectives-september-26-2024-u-s-grains-and-bioproducts-council.md) | +2.5% | +0.4% |

## Sources

- grains.org: https://grains.org/ddgs_report/ddgs-weekly-market-report-march-11-2021/
- grains.org: https://grains.org/market_perspectives/market-perspectives-march-11-2021/
- grains.org: https://grains.org/market_perspectives/market-perspectives-march-11-2021/6/

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