# Sell the rumour, buy the fact - Grain Central

> Global futures fell sharply after the Pro Farmer crop tour confirmed a large U.S. harvest, with corn yield estimated at 177.3 bushels per acre and soybeans at 53 bushels per acre. Wheat fell most as funds liquidated more than a third of their long positions. Russia downplayed rumors of wheat export restrictions.

- Date: 2018-08-28 · published 2018-08-28T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/63611-sell-the-rumour-buy-the-fact-grain-central
- 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

A larger-than-expected U.S. crop adds ample supply and weighs on corn and soybean prices, while Chinese demand for U.S. soybeans remains uncertain. Wheat's drop reflects fund selling rather than a change in its tight global balance.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-08-15 | [The bears are back in town… - Grain Central](https://feedsoft.ai/events/69417-the-bears-are-back-in-town-grain-central.md) | -3.4% | -5.0% |
| CORN | 2021-02-16 | [The USDA tried, but it still missed the mark on China - Grain Central](https://feedsoft.ai/events/48593-the-usda-tried-but-it-still-missed-the-mark-on-china-grain-central.md) | +1.5% | -3.8% |
| CORN | 2017-04-18 | [The low price cycle pedals on - Grain Central](https://feedsoft.ai/events/71474-the-low-price-cycle-pedals-on-grain-central.md) | -0.6% | +1.5% |
| CORN | 2018-08-02 | [Ukraine grain juggernaut continues to rise in the East - Grain Central](https://feedsoft.ai/events/63392-ukraine-grain-juggernaut-continues-to-rise-in-the-east-grain-central.md) | +9.3% | -3.4% |
| CORN | 2017-03-07 | [What does ABARES' crystal ball see ahead for grain prices? - Grain Central](https://feedsoft.ai/events/71944-what-does-abares-crystal-ball-see-ahead-for-grain-prices-grain-central.md) | -2.2% | -0.2% |
| SOY | 2017-08-15 | [The bears are back in town… - Grain Central](https://feedsoft.ai/events/69417-the-bears-are-back-in-town-grain-central.md) | +0.8% | +2.0% |
| SOY | 2017-04-18 | [The low price cycle pedals on - Grain Central](https://feedsoft.ai/events/71474-the-low-price-cycle-pedals-on-grain-central.md) | +0.8% | +1.3% |
| SOY | 2019-05-12 | [Daily Market Wire 13 May 2019 - Grain Central](https://feedsoft.ai/events/5739-daily-market-wire-13-may-2019-grain-central.md) | +3.1% | +7.7% |

## Sources

- graincentral.com: https://www.graincentral.com/markets/sell-the-rumour-buy-the-fact/

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