# Traders shake off bearish corn data

> Corn futures gained 2 cents after the April WASDE despite a bearish stocks increase that was within trade expectations. Soybean futures rose about 8 cents after USDA cut South American soybean yields. Wheat stocks were reported at record highs near 10.8 billion bushels.

- Date: 2020-04-09 · published 2020-04-09T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/53604-traders-shake-off-bearish-corn-data
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Traders treated the corn stocks increase as already priced in, while lower South American output supports soybean values. Record global wheat supplies cap wheat price gains.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-06-12 | [Futures rally on bullish corn, soybean data](https://feedsoft.ai/events/64480-futures-rally-on-bullish-corn-soybean-data.md) | -4.7% | -10.6% |
| SOY | 2020-06-11 | [Corn debunks bearish expectations on smaller 2019 crop](https://feedsoft.ai/events/52552-corn-debunks-bearish-expectations-on-smaller-2019-crop.md) | +0.7% | +3.8% |
| SOY | 2022-10-12 | [Turner's Take Ag Markets \| WASDE Bullish Soybeans and Bearish Corn/Wheat](https://feedsoft.ai/events/39095-turner-s-take-ag-markets-wasde-bullish-soybeans-and-bearish-corn-wheat.md) | -0.3% | +4.9% |
| SOY | 2018-05-10 | [WASDE delivers bullish corn, soybean news](https://feedsoft.ai/events/64967-wasde-delivers-bullish-corn-soybean-news.md) | -0.7% | -3.3% |
| SOY | 2021-05-12 | [New-Crop December Corn Falters on Bearish WASDE; Soybeans Maintain Strong Gains](https://feedsoft.ai/events/7468-new-crop-december-corn-falters-on-bearish-wasde-soybeans-maintain-strong-gains.md) | -3.9% | -4.6% |
| CORN | 2017-05-10 | [Not bearish, neutral to friendly – Ohio Ag Net \| Ohio's Country Journal](https://feedsoft.ai/events/70937-not-bearish-neutral-to-friendly-ohio-ag-net-ohio-s-country-journal.md) | +0.3% | +2.4% |
| CORN | 2021-09-29 | [Reuters Column: Will USDA's stocks data break bullish corn and soy streak? - CTRM Center](https://feedsoft.ai/events/45121-reuters-column-will-usda-s-stocks-data-break-bullish-corn-and-soy-streak-ctrm.md) | +1.6% | +2.0% |
| CORN | 2017-01-17 | [2016 Corn Yields, % of Trend 2017](https://feedsoft.ai/events/72841-2016-corn-yields-of-trend-2017.md) | +2.6% | +3.6% |

## Sources

- farmprogress.com: https://www.farmprogress.com/corn/traders-shake-off-bearish-corn-data

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