# Wheat, corn respond strongly to USDA numbers - Brownfield Ag News

> USDA's June WASDE lowered US old- and new-crop corn and soybean ending stocks, below pre-report estimates. USDA cut Brazil's total crop estimate on dry weather affecting second-crop production, and trimmed Argentina's 2017/18 outlook. Soybean meal rose while soybean oil fell on product spread adjustments.

- Date: 2018-06-12 · published 2018-06-12T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/64482-wheat-corn-respond-strongly-to-usda-numbers-brownfield-ag-news
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Lower US stocks and reduced South American second-crop output tighten global supplies, supporting corn and meal prices. Soybean oil weakness tilts the crush margin lower.

## Read by commodity

- SBM: bullish ▲
- SBO: bearish ▼
- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-01-12 | [USDA numbers send corn, soybeans, wheat higher - Brownfield Ag News](https://feedsoft.ai/events/49092-usda-numbers-send-corn-soybeans-wheat-higher-brownfield-ag-news.md) | +5.8% | +11.6% |
| CORN | 2017-02-08 | [Soybeans, corn, wheat up ahead of USDA numbers - Brownfield Ag News](https://feedsoft.ai/events/8600-soybeans-corn-wheat-up-ahead-of-usda-numbers-brownfield-ag-news.md) | +0.9% | +0.3% |
| CORN | 2022-09-30 | [Wheat, corn rise, soybeans fall after USDA numbers - Brownfield Ag News](https://feedsoft.ai/events/39611-wheat-corn-rise-soybeans-fall-after-usda-numbers-brownfield-ag-news.md) | +1.0% | +3.8% |
| CORN | 2020-09-30 | [Big gains in corn, soybeans, wheat after USDA numbers - Brownfield Ag News](https://feedsoft.ai/events/8791-big-gains-in-corn-soybeans-wheat-after-usda-numbers-brownfield-ag-news.md) | +1.5% | +11.3% |
| CORN | 2017-06-30 | [USDA numbers, weather spark strong reactions - Brownfield Ag News](https://feedsoft.ai/events/9721-usda-numbers-weather-spark-strong-reactions-brownfield-ag-news.md) | +5.6% | +3.1% |
| SOY | 2018-09-12 | [Corn, wheat down following USDA numbers - Brownfield Ag News](https://feedsoft.ai/events/62984-corn-wheat-down-following-usda-numbers-brownfield-ag-news.md) | -0.8% | +5.2% |
| SOY | 2021-01-12 | [USDA numbers send corn, soybeans, wheat higher - Brownfield Ag News](https://feedsoft.ai/events/49092-usda-numbers-send-corn-soybeans-wheat-higher-brownfield-ag-news.md) | +0.8% | +2.0% |
| SOY | 2017-02-08 | [Soybeans, corn, wheat up ahead of USDA numbers - Brownfield Ag News](https://feedsoft.ai/events/8600-soybeans-corn-wheat-up-ahead-of-usda-numbers-brownfield-ag-news.md) | +0.2% | -3.0% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/wheat-corn-respond-strong-to-usda-numbers/

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