# USDA Reports Spark Market Rally and Opportunity for Growers | Iowa Agribusiness Radio Network

> USDA's June 30 acreage and stocks reports showed record US soybean plantings of 89.5 million acres and corn at 90.9 million acres, down 3%. Wheat acres came in at 45.7 million, at the bottom of trade expectations. Markets rallied despite the bearish headline numbers.

- Date: 2017-06-30 · published 2017-06-30T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/70551-usda-reports-spark-market-rally-and-opportunity-for-growers-iowa-agribusiness
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Soybean acreage above trade expectations is bearish for later supply, but analysts expect near-term prices to hold up on Western Corn Belt dryness. Feed buyers face higher prices for summer delivery, with Brazilian corn expected to narrow cash bases later.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2018-02-08 | [USDA lowers soy exports, market reacts bullishly \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/66448-usda-lowers-soy-exports-market-reacts-bullishly-iowa-agribusiness-radio-network.md) | +0.2% | +2.3% |
| CORN | 2021-08-12 | [Markets higher after ?exciting? WASDE Report \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/45503-markets-higher-after-exciting-wasde-report-iowa-agribusiness-radio-network.md) | +0.7% | -7.7% |
| CORN | 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) | +1.9% | +2.2% |
| CORN | 2021-02-12 | [Rising feed costs may change feeder cattle market \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/48785-rising-feed-costs-may-change-feeder-cattle-market-iowa-agribusiness-radio.md) | -1.6% | +3.1% |
| CORN | 2021-04-09 | [April WASDE Report ?kind of a dud,? analyst says \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/47549-april-wasde-report-kind-of-a-dud-analyst-says-iowa-agribusiness-radio-network.md) | +1.1% | +23.4% |
| SOY | 2018-02-08 | [USDA lowers soy exports, market reacts bullishly \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/66448-usda-lowers-soy-exports-market-reacts-bullishly-iowa-agribusiness-radio-network.md) | +3.5% | +7.2% |
| SOY | 2018-04-16 | [Demand for U.S. soy remains strong \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/65599-demand-for-u-s-soy-remains-strong-iowa-agribusiness-radio-network.md) | -2.4% | -5.6% |
| SOY | 2021-02-12 | [Rising feed costs may change feeder cattle market \| Iowa Agribusiness Radio Network](https://feedsoft.ai/events/48785-rising-feed-costs-may-change-feeder-cattle-market-iowa-agribusiness-radio.md) | +0.7% | +3.5% |

## Sources

- iowaagribusinessradionetwork.com: https://iowaagribusinessradionetwork.com/usda-reports-spark-market-rally-and-opportunity-for-growers/

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