◂ Event Timeline

Jul 11, 2017REPORTUS

USDA: Corn drops 3 points to 65% g/e, soybeans down 2 to 62%

USDA's weekly report showed corn good-to-excellent ratings falling 3 points to 65 percent and soybeans down 2 to 62 percent. Spring wheat declined for a sixth straight week to 35 percent good-to-excellent amid hot, dry weather.

WHY IT MATTERS

Lower crop ratings cut expected yields and support corn, soybean and wheat prices. Feed buyers face higher input costs if the trend continues.

AFFECTSCorn▲Soybeans▲Wheat (SRW)▲

SOURCE
farmprogress.comBob Burgdorfer 1 Senior Editor, Farm FuturesJul 11, 2017

Price reaction & history

Corn▲bullishSO FAR1d +0.1%5d -4.3%20d -4.6%

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.

Jul 17, 2018USDA crop progress: Corn and soybean condition drops again-0.7%
Jun 24, 2024USDA Crop Progress: Corn Rated 69% Good to Excellent, Soybeans 67% Good to Excellent as of June 23-7.2%
Jul 12, 2018USDA Bumps Corn and Soybean Production, Drops Soybean Exports+2.9%
Nov 8, 2018USDA cuts corn, soybean crops-6.8%
May 13, 2022USDA: U.S. Corn Production to Drop 4.3%-1.0%

Soybeans▲bullishSO FAR1d +0.5%5d -3.5%20d -5.9%

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.

Jul 17, 2018USDA crop progress: Corn and soybean condition drops again+2.2%
Jun 24, 2024USDA Crop Progress: Corn Rated 69% Good to Excellent, Soybeans 67% Good to Excellent as of June 23-0.9%
Aug 12, 2019Corn futures fall 6% after bearish USDA crop report; soybeans down 1.3%-0.7%
Sep 5, 2023USDA Crop Progress Report: Corn, Soy Conditions Fall in Week Ended Sept. 3-0.3%
Jun 30, 2017USDA shocks markets with low soybean, wheat acres | Farm Progress+8.8%

Wheat (SRW)▲bullishSO FAR1d +0.2%5d -2.0%20d -1.7%

After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.

Mar 18, 2019USDA Agricultural Projections to 2028- Focus on Corn, Soybeans - Farm Policy News+2.4%
May 13, 2022USDA: U.S. Corn Production to Drop 4.3%+4.4%
May 12, 2023USDA Predicts Record Corn, Soybean Crops-1.1%
Jun 30, 2017USDA shocks markets with low soybean, wheat acres | Farm Progress+1.3%
Apr 20, 2026Crop Progress: Corn 11% Planted, Soybeans 12% Planted, Winter Wheat Rated 30% Good to Excellent as of April 19-0.3%

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.

Corn CORN · GP ▸

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Soybeans SOY · GP ▸

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