# Grain market tumbles following USDA report - Iowa Agribusiness Radio Network

> USDA's July 2017 Supply and Demand Report raised new-crop corn production by 190 million bushels, surprising the trade. December corn fell 15 cents to $3.98 in Chicago, and November soybeans dropped 9 cents to $10.34 despite tighter old- and new-crop soybean stocks than expected.

- Date: 2017-07-12 · published 2017-07-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/6473-grain-market-tumbles-following-usda-report-iowa-agribusiness-radio-network
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A larger-than-expected corn supply estimate adds bearish pressure on feed grain prices, which lowers the cost outlook for feed buyers. Soybean meal follows soybean futures, so tighter soybean stocks offset some of the pressure.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2019-05-10 | [USDA releases ?big, bearish numbers? in WASDE \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/59046-usda-releases-big-bearish-numbers-in-wasde-iowa-agribusiness-radio-network.md) | +5.8% | +12.3% |
| CORN | 2022-04-08 | [April WASDE report a bit disappointing \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/41802-april-wasde-report-a-bit-disappointing-iowa-agribusiness-radio-network.md) | -0.7% | -6.4% |
| CORN | 2020-01-10 | [WASDE report: “Not as friendly? as expected \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/55024-wasde-report-not-as-friendly-as-expected-iowa-agribusiness-radio-network.md) | -1.0% | -0.7% |
| CORN | 2019-08-12 | [Corn ending stocks takes analysts by surprise \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/57552-corn-ending-stocks-takes-analysts-by-surprise-iowa-agribusiness-radio-network.md) | -6.0% | -8.6% |
| CORN | 2018-02-22 | [Traders look for increased trend line yield estimates \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/66352-traders-look-for-increased-trend-line-yield-estimates-iowa-agribusiness-radio.md) | +1.4% | +3.0% |
| SOY | 2019-06-11 | [WASDE report gives bullish numbers to corn \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/58540-wasde-report-gives-bullish-numbers-to-corn-iowa-agribusiness-radio-network.md) | +6.3% | +2.8% |
| SOY | 2019-05-10 | [USDA releases ?big, bearish numbers? in WASDE \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/59046-usda-releases-big-bearish-numbers-in-wasde-iowa-agribusiness-radio-network.md) | +4.9% | +7.0% |
| SOY | 2017-12-12 | [USDA lowers corn ending stocks, raises soybean \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/67416-usda-lowers-corn-ending-stocks-raises-soybean-iowa-agribusiness-radio-network.md) | -2.1% | -3.6% |

## Sources

- iowaagribusinessradionetwork.com: https://iowaagribusinessradionetwork.com/grain-market-tumbles-following-usda-report/

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