◂ Event Timeline

Mar 29, 2018REPORTUS

Farmers plan to cut corn, soybean acreage, USDA says

USDA's Prospective Plantings survey showed farmers will plant 88 million acres of corn, down 2 percent, and 89 million acres of soybeans, down 1 percent. Soybeans will outnumber corn for the first time since 1983, and wheat area rose 3 percent to 47.3 million acres.

WHY IT MATTERS

Smaller corn and soybean plantings reduce expected supply and support feed grain and meal prices, while higher wheat area adds competing feed supply.

AFFECTSWheat (SRW)▼Soybeans▲Corn▲

SOURCE
agri-pulse.comDaniel EnochMar 29, 2018

Price reaction & history

Wheat (SRW)▼bearishSO FAR1d +0.2%5d +1.5%20d +4.9%

After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.

May 31, 2023USDA lowers ag trade forecast for FY 2023 | Agri-Pulse Communications, Inc.-3.2%
Dec 9, 2021USDA maintains corn, soybean stocks estimates, gives bearish wheat figures in December WASDE | Agri-Pulse Communications, Inc.-6.6%
Mar 9, 2022USDA forecast larger wheat stocks despite war, but warns of uncertainty | 2022-03-09 | Agri-Pulse Communications, Inc.-3.1%
Feb 24, 2022USDA cuts corn, raises soy and wheat acreage for 2022+6.8%
Jan 12, 2022PF Report Reaction: USDA report data relatively mild for corn and soybeans - Pro Farmer+3.9%

Soybeans▲bullishSO FAR1d +2.6%5d +1.3%20d +1.0%

After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.

Sep 12, 2019USDA lowers corn, soybean yield estimates | 2019-09-12 | Agri-Pulse Communications, Inc.+4.1%
Aug 12, 2021USDA lowers corn, soybean yield estimates due to drought | 2021-08-12 | Agri-Pulse Communications, Inc.-3.4%
Jun 30, 2023More corn, less soybeans revealed in USDA crop acreage, grain stocks reports | Agri-Pulse Communications, Inc.+0.2%
Dec 8, 2023USDA trims forecast for soybean, wheat supplies | Agri-Pulse Communications, Inc.+0.2%
May 31, 2023USDA lowers ag trade forecast for FY 2023 | Agri-Pulse Communications, Inc.+4.4%

Corn▲bullishSO FAR1d +2.3%5d +4.8%20d +4.9%

After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.

Sep 12, 2019USDA lowers corn, soybean yield estimates | 2019-09-12 | Agri-Pulse Communications, Inc.+4.8%
Aug 12, 2021USDA lowers corn, soybean yield estimates due to drought | 2021-08-12 | Agri-Pulse Communications, Inc.+0.7%
Dec 8, 2023USDA trims forecast for soybean, wheat supplies | Agri-Pulse Communications, Inc.-2.7%
Jul 10, 2020USDA holds corn and soybean yields steady in latest WASDE | 2020-07-10 | Agri-Pulse Communications, Inc.-4.9%
May 12, 2022USDA warns on corn, winter wheat crops due to weather | 2022-05-12 | Agri-Pulse Communications, Inc.-0.3%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

Wheat (SRW) WHEAT · GP ▸

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Soybeans SOY · GP ▸

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