# CBOT weekly outlook: Bearish USDA report generates bullish reaction - Grainews

> The USDA raised US corn yield to a record 181.5 bu/acre and soybean yield to 53.3 bu/acre, both above market expectations. CBOT futures reacted with a bounce despite the bearish numbers. Corn carryout rose about 4% to 2.756 billion bushels.

- Date: 2020-08-12 · published 2020-08-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/51551-cbot-weekly-outlook-bearish-usda-report-generates-bullish-reaction-grainews
- 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

Bigger US yields and carryout stocks weigh on feed grain and soymeal prices, though the friendly market reaction shows some buying support.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2020-08-12 | 1 | +2.8% | 3.5 | Describes a bullish market reaction despite bearish USDA numbers, consistent with a short-covering rally in soybean products. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-08-31 | [CBOT weekly outlook: Harvest, crop conditions pressuring prices - Grainews](https://feedsoft.ai/events/40077-cbot-weekly-outlook-harvest-crop-conditions-pressuring-prices-grainews.md) | -2.0% | -3.7% |
| CORN | 2016-09-12 | [USDA Report: Larger soybean crop sparks bearish reaction](https://feedsoft.ai/events/10184-usda-report-larger-soybean-crop-sparks-bearish-reaction.md) | +1.6% | +4.4% |
| CORN | 2019-08-29 | [Feed weekly outlook: New-crop expectations weigh on bids - Grainews](https://feedsoft.ai/events/57659-feed-weekly-outlook-new-crop-expectations-weigh-on-bids-grainews.md) | -3.0% | +1.1% |
| CORN | 2021-09-30 | [Soy stumbles on bearish USDA report](https://feedsoft.ai/events/45036-soy-stumbles-on-bearish-usda-report.md) | +0.3% | +2.8% |
| CORN | 2020-07-10 | [July WASDE Report Gets Bearish Reaction \| Radio 570 WNAX](https://feedsoft.ai/events/52079-july-wasde-report-gets-bearish-reaction-radio-570-wnax.md) | -4.9% | -7.5% |
| SOY | 2022-08-31 | [CBOT weekly outlook: Harvest, crop conditions pressuring prices - Grainews](https://feedsoft.ai/events/40077-cbot-weekly-outlook-harvest-crop-conditions-pressuring-prices-grainews.md) | -3.1% | -6.9% |
| SOY | 2022-03-31 | [USDA Report Bullish for Corn, Bearish for Soybeans](https://feedsoft.ai/events/42296-usda-report-bullish-for-corn-bearish-for-soybeans.md) | -2.7% | +2.6% |
| SOY | 2016-09-12 | [USDA Report: Larger soybean crop sparks bearish reaction](https://feedsoft.ai/events/10184-usda-report-larger-soybean-crop-sparks-bearish-reaction.md) | -3.1% | -4.1% |

## Sources

- grainews.ca: https://www.grainews.ca/daily/cbot-weekly-outlook-bearish-usda-report-generates-bullish-reaction/

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