# Soybeans, corn shrug off bigger USDA crop estimates - Brownfield Ag News

> Soybeans and corn rose modestly after the August USDA report, which raised yield estimates and 2020/21 ending stocks. China bought 258,000 tons of new-crop US beans, and a derecho is expected to trim Iowa corn later. Soybean meal and oil firmed.

- Date: 2020-08-12 · published 2020-08-12T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/51550-soybeans-corn-shrug-off-bigger-usda-crop-estimates-brownfield-ag-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Strong Chinese buying supports soybean meal prices, while the expected storm-related trim to corn output could limit bearish pressure on feed grains.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲
- CORN: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2020-08-12 | 1 | +2.8% | 3.5 | Reports that soybean meal and oil firmed after the August USDA report on August 12, alongside continued Chinese new-crop buying, directly describe the day's move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2016-11-08 | [Corn, soybeans, wheat up ahead of USDA numbers - Brownfield Ag News](https://feedsoft.ai/events/8305-corn-soybeans-wheat-up-ahead-of-usda-numbers-brownfield-ag-news.md) | +0.0% | +6.0% |
| SOY | 2018-12-03 | [Soybeans, corn up, but off day's highs - Brownfield Ag News](https://feedsoft.ai/events/5834-soybeans-corn-up-but-off-day-s-highs-brownfield-ag-news.md) | +1.7% | +0.0% |
| SOY | 2016-12-06 | [New export sales support soybeans, corn - Brownfield Ag News](https://feedsoft.ai/events/6328-new-export-sales-support-soybeans-corn-brownfield-ag-news.md) | -1.2% | -3.6% |
| SOY | 2016-10-27 | [Demand supports soybeans, corn - Brownfield Ag News](https://feedsoft.ai/events/9242-demand-supports-soybeans-corn-brownfield-ag-news.md) | -3.3% | +3.6% |
| SOY | 2021-11-12 | [Soybean meal leads beans, corn higher - Brownfield Ag News](https://feedsoft.ai/events/7050-soybean-meal-leads-beans-corn-higher-brownfield-ag-news.md) | +4.4% | +4.6% |
| SBM | 2016-11-08 | [Corn, soybeans, wheat up ahead of USDA numbers - Brownfield Ag News](https://feedsoft.ai/events/8305-corn-soybeans-wheat-up-ahead-of-usda-numbers-brownfield-ag-news.md) | -0.6% | +2.3% |
| SBM | 2016-12-06 | [New export sales support soybeans, corn - Brownfield Ag News](https://feedsoft.ai/events/6328-new-export-sales-support-soybeans-corn-brownfield-ag-news.md) | -0.9% | -0.8% |
| SBM | 2021-11-12 | [Soybean meal leads beans, corn higher - Brownfield Ag News](https://feedsoft.ai/events/7050-soybean-meal-leads-beans-corn-higher-brownfield-ag-news.md) | +7.0% | +7.2% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/soybeans-corn-shrug-off-bigger-usda-crop-estimates/

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