# U.S. grains: Soy, corn rally on smaller-than-expected stockpiles - Manitoba Co-operator

> Soybean and corn futures rallied on September 30 after USDA stockpile figures came in below trade expectations, with soybeans up 2.4% to $9.06 and corn up 4.2% to $3.88. China bought up to 600,000 tonnes of US soybeans that day, and USDA put soybean supplies at 913 million bushels versus an estimated 982 million.

- Date: 2019-09-30 · published 2019-09-30T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/57114-u-s-grains-soy-corn-rally-on-smaller-than-expected-stockpiles-manitoba-co
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Tighter-than-expected US stocks and renewed Chinese buying support soybean and corn prices, reversing the September slump.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2019-09-30 | 1 | +2.8% | 3.1 | Sept 30 rally in soybeans and corn after USDA stocks came in well below expectations (soy 913M vs 982M bu) directly tightened supply and lifted soybean meal that day. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2021-06-30 | [Smaller-than-expected U.S. corn, soy acreage stokes price rally](https://feedsoft.ai/events/46614-smaller-than-expected-u-s-corn-soy-acreage-stokes-price-rally.md) | +2.0% | +5.3% |
| SOY | 2021-03-09 | [U.S. grains: Wheat and soy climb, corn sags after USDA data - Manitoba Co-operator](https://feedsoft.ai/events/48067-u-s-grains-wheat-and-soy-climb-corn-sags-after-usda-data-manitoba-co-operator.md) | -1.3% | -1.3% |
| SOY | 2020-09-30 | [Corn, soy, wheat surge on lower-than-expected U.S. grain stocks \| Financial Post](https://feedsoft.ai/events/8786-corn-soy-wheat-surge-on-lower-than-expected-u-s-grain-stocks-financial-post.md) | +5.1% | +9.0% |
| SOY | 2017-06-30 | [U.S. grains: Chicago wheat above $5 on U.S., Canadian concerns - Manitoba Co-operator](https://feedsoft.ai/events/70513-u-s-grains-chicago-wheat-above-5-on-u-s-canadian-concerns-manitoba-co-operator.md) | +8.8% | +9.3% |
| SOY | 2020-06-30 | [Corn, soy climb on smaller-than-expected USDA acreage view \| Financial Post](https://feedsoft.ai/events/52675-corn-soy-climb-on-smaller-than-expected-usda-acreage-view-financial-post.md) | +3.3% | +3.5% |
| CORN | 2021-06-30 | [Smaller-than-expected U.S. corn, soy acreage stokes price rally](https://feedsoft.ai/events/46614-smaller-than-expected-u-s-corn-soy-acreage-stokes-price-rally.md) | -0.4% | -10.6% |
| CORN | 2020-09-30 | [Corn, soy, wheat surge on lower-than-expected U.S. grain stocks \| Financial Post](https://feedsoft.ai/events/8786-corn-soy-wheat-surge-on-lower-than-expected-u-s-grain-stocks-financial-post.md) | +1.5% | +11.3% |
| CORN | 2024-08-12 | [U.S. grains: Soybeans fall to four-year low on record U.S. crop estimate - Manitoba Co-operator](https://feedsoft.ai/events/10466-u-s-grains-soybeans-fall-to-four-year-low-on-record-u-s-crop-estimate-manitoba.md) | -1.6% | +1.4% |

## Sources

- manitobacooperator.ca: https://www.manitobacooperator.ca/daily/u-s-grains-soy-corn-rally-on-smaller-than-expected-stockpiles/

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