# U.S. grains: Soybean, grains futures drop as traders shed risk - AgCanada

> On August 11, 2023, CBOT soybeans, corn and wheat settled lower as traders shed risk ahead of the weekend. USDA's WASDE projected smaller US corn and soybean harvests than expected, but the corn crop was still on track to be the second largest on record. USDA also reported prevented plantings of 1.4 million acres of corn and 459,000 acres of soybeans.

- Date: 2023-08-12 · published 2023-08-12T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/5618-u-s-grains-soybean-grains-futures-drop-as-traders-shed-risk-agcanada
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Smaller projected US harvests would tighten supply and support prices. Improving weather expectations and the record corn crop outlook outweighed that effect, leaving prices lower.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-12-08 | [U.S. grains: CBOT grain, soybean futures tumble after monthly USDA data \| Farmtario](https://feedsoft.ai/events/32635-u-s-grains-cbot-grain-soybean-futures-tumble-after-monthly-usda-data-farmtario.md) | -2.7% | -0.3% |
| CORN | 2017-12-07 | [U.S. grains: StatsCan data help drag wheat to contract lows - AgCanada](https://feedsoft.ai/events/11622-u-s-grains-statscan-data-help-drag-wheat-to-contract-lows-agcanada.md) | +2.9% | +6.2% |
| CORN | 2018-01-12 | [U.S. grains: Wheat drops most since August after USDA acreage surprise - AgCanada](https://feedsoft.ai/events/66938-u-s-grains-wheat-drops-most-since-august-after-usda-acreage-surprise-agcanada.md) | +1.7% | +3.5% |
| CORN | 2019-08-12 | [Corn futures fall 6% after bearish USDA crop report; soybeans down 1.3%](https://feedsoft.ai/events/11736-corn-futures-fall-6-after-bearish-usda-crop-report-soybeans-down-1-3.md) | -6.0% | -8.6% |
| CORN | 2019-08-12 | [CORRECTED-USDA acreage debate pushes U.S. farmers, grain traders on data hunt](https://feedsoft.ai/events/11735-corrected-usda-acreage-debate-pushes-u-s-farmers-grain-traders-on-data-hunt.md) | -6.0% | -8.6% |
| SOY | 2023-09-15 | [U.S. grains: Soybeans down on positioning, crush pace - AgCanada](https://feedsoft.ai/events/7184-u-s-grains-soybeans-down-on-positioning-crush-pace-agcanada.md) | -3.7% | -4.0% |
| SOY | 2023-12-08 | [U.S. grains: CBOT grain, soybean futures tumble after monthly USDA data \| Farmtario](https://feedsoft.ai/events/32635-u-s-grains-cbot-grain-soybean-futures-tumble-after-monthly-usda-data-farmtario.md) | +0.2% | -5.5% |
| SOY | 2021-09-30 | [U.S. grains: Wheat futures surge as supplies drop to 14-year low - Grainews](https://feedsoft.ai/events/11320-u-s-grains-wheat-futures-surge-as-supplies-drop-to-14-year-low-grainews.md) | -3.3% | -3.5% |

## Sources

- agcanada.com: https://www.agcanada.com/daily/u-s-grains-soybean-grains-futures-drop-as-traders-shed-risk

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