# Crops dip, recover after USDA’s bearish supply numbers

> Crop markets dipped after USDA's June 9 supply/demand report raised soybean ending stocks by 15 million bushels for old crop, due to a lower crush. Winter wheat production was raised to 1.824 billion bushels, with hard red winter wheat at 743 million. Prices recovered as a Midwest heat wave pushed traders to add weather premiums.

- Date: 2017-06-09 · published 2017-06-09T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/70427-crops-dip-recover-after-usda-s-bearish-supply-numbers
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Higher soybean stocks and a bigger wheat crop are bearish fundamentals, but the heat forecast supports prices. Traders are pricing weather risk above the supply numbers.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-03-29 | [Soybeans down, corn up after USDA numbers - Brownfield Ag News](https://feedsoft.ai/events/72023-soybeans-down-corn-up-after-usda-numbers-brownfield-ag-news.md) | +0.8% | +0.4% |
| 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 | 2020-11-10 | [November 10 USDA Supply/Demand Report Recap - ADM Investor Services](https://feedsoft.ai/events/50093-november-10-usda-supply-demand-report-recap-adm-investor-services.md) | +9.7% | +8.7% |
| CORN | 2021-03-03 | [USDA Report: U.S. Dairy Farm Numbers Continue to Decline](https://feedsoft.ai/events/48126-usda-report-u-s-dairy-farm-numbers-continue-to-decline.md) | +4.3% | +3.1% |
| SOY | 2017-08-10 | [Crop markets tumble after bearish USDA numbers](https://feedsoft.ai/events/69394-crop-markets-tumble-after-bearish-usda-numbers.md) | -4.3% | +0.0% |
| SOY | 2017-03-10 | [Crops lower in wake of bearish USDA report](https://feedsoft.ai/events/8404-crops-lower-in-wake-of-bearish-usda-report.md) | +0.1% | -5.9% |
| SOY | 2017-03-29 | [Soybeans down, corn up after USDA numbers - Brownfield Ag News](https://feedsoft.ai/events/72023-soybeans-down-corn-up-after-usda-numbers-brownfield-ag-news.md) | -3.5% | -2.7% |

## Sources

- farmprogress.com: https://www.farmprogress.com/marketing/crops-dip-recover-after-usda-s-bearish-supply-numbers
- feedstuffs.com: https://www.feedstuffs.com/grain-market-news/crops-dip-recover-after-usda-s-bearish-supply-numbers

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