# Corn, soybeans rise after USDA confirms massive US crops - Markets - Business Recorder

> CBOT corn and soybean futures rose after the USDA's August report projected the biggest US corn harvest and second-biggest soybean harvest, with higher ending stocks for both crops. Corn stocks came in slightly below trade expectations. Traders were also assessing storm damage from a Midwest derecho.

- Date: 2020-08-12 · published 2020-08-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/51546-corn-soybeans-rise-after-usda-confirms-massive-us-crops-markets-business
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A record US corn crop and larger stocks are bearish for feed grain prices over time, but the friendlier-than-expected corn stocks figure and short covering supported futures in the near term.

## Read by commodity

- SBM: neutral
- SOY: neutral
- CORN: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2020-08-12 | 1 | +2.8% | 3.5 | CBOT soy futures rose after the USDA report as traders weighed derecho storm damage, supporting meal gains on the day. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-07-31 | [Soybeans firm as US biodiesel data lifts soyoil; corn flat - Markets - Business Recorder](https://feedsoft.ai/events/51967-soybeans-firm-as-us-biodiesel-data-lifts-soyoil-corn-flat-markets-business.md) | -0.7% | +7.0% |
| CORN | 2016-09-12 | [USDA Still Sees Record Corn, Soybean Crops](https://feedsoft.ai/events/10185-usda-still-sees-record-corn-soybean-crops.md) | +1.6% | +4.4% |
| CORN | 2022-04-17 | [French soft wheat crop rating stable - Markets - Business Recorder](https://feedsoft.ai/events/41779-french-soft-wheat-crop-rating-stable-markets-business-recorder.md) | +2.1% | -0.0% |
| CORN | 2019-04-09 | [Soybeans mixed, corn mostly firm after USDA report - Brownfield Ag News](https://feedsoft.ai/events/59548-soybeans-mixed-corn-mostly-firm-after-usda-report-brownfield-ag-news.md) | +1.8% | -0.5% |
| CORN | 2023-02-09 | [Strategie Grains enhances EU wheat crop forecast again - Markets - Business Recorder](https://feedsoft.ai/events/37268-strategie-grains-enhances-eu-wheat-crop-forecast-again-markets-business-recorder.md) | -1.3% | -5.2% |
| SOY | 2020-08-11 | [CBOT soybeans end near unchanged ahead of US crop report - Markets - Business Recorder](https://feedsoft.ai/events/10683-cbot-soybeans-end-near-unchanged-ahead-of-us-crop-report-markets-business.md) | +4.1% | +11.0% |
| SOY | 2021-04-08 | [USDA to expand forecasts on soyoil use in biofuels in May crop report - Markets - Business Recorder](https://feedsoft.ai/events/47668-usda-to-expand-forecasts-on-soyoil-use-in-biofuels-in-may-crop-report-markets.md) | +0.1% | +12.3% |
| SOY | 2019-04-09 | [Soybeans mixed, corn mostly firm after USDA report - Brownfield Ag News](https://feedsoft.ai/events/59548-soybeans-mixed-corn-mostly-firm-after-usda-report-brownfield-ag-news.md) | -0.0% | -9.0% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40011625

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