# Key support levels tested by WASDE report - Brownfield Ag News

> Corn and soybean futures closed lower on November 9 after the WASDE report showed higher yields and production. Corn fell below $3.45 support after failing at $3.55-3.60, and soybeans moved toward $9.75 support following a large soybean carryout figure. Analysts expect the weakness to limit farmer selling as U.S. harvest winds down.

- Date: 2016-11-09 · published 2016-11-09T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/73823-key-support-levels-tested-by-wasde-report-brownfield-ag-news
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Failing key support levels after a bearish report signals lower prices in the near term, and reduced farmer selling could tighten nearby cash supply. Price levels may remain under pressure until a weather problem arises in South America or the U.S.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2019-04-09 | [Despite neutral CBOT close, WASDE report "bad for corn" - Brownfield Ag News](https://feedsoft.ai/events/59545-despite-neutral-cbot-close-wasde-report-bad-for-corn-brownfield-ag-news.md) | +1.8% | -0.5% |
| CORN | 2019-03-08 | [Soybeans, corn down after supply and demand report - Brownfield Ag News](https://feedsoft.ai/events/60038-soybeans-corn-down-after-supply-and-demand-report-brownfield-ag-news.md) | +0.8% | +0.8% |
| CORN | 2017-11-09 | [Latest WASDE tightens lid on prices even more - Brownfield Ag News](https://feedsoft.ai/events/67931-latest-wasde-tightens-lid-on-prices-even-more-brownfield-ag-news.md) | -1.8% | -0.8% |
| CORN | 2026-03-10 | [Soybeans up, corn and wheat down after quiet March WASDE report - Brownfield Ag News](https://feedsoft.ai/events/10386-soybeans-up-corn-and-wheat-down-after-quiet-march-wasde-report-brownfield-ag.md) | +3.2% | +2.8% |
| CORN | 2021-05-13 | [Market setback day after USDA supply and demand report - Brownfield Ag News](https://feedsoft.ai/events/12369-market-setback-day-after-usda-supply-and-demand-report-brownfield-ag-news.md) | -7.7% | -2.2% |
| SOY | 2018-07-12 | [Corn, wheat supported by ending stocks - Brownfield Ag News](https://feedsoft.ai/events/64000-corn-wheat-supported-by-ending-stocks-brownfield-ag-news.md) | +1.5% | +7.7% |
| SOY | 2019-06-28 | [Soybean stocks at record levels - Brownfield Ag News](https://feedsoft.ai/events/58538-soybean-stocks-at-record-levels-brownfield-ag-news.md) | -1.7% | -0.5% |
| SOY | 2019-03-08 | [Soybeans, corn down after supply and demand report - Brownfield Ag News](https://feedsoft.ai/events/60038-soybeans-corn-down-after-supply-and-demand-report-brownfield-ag-news.md) | -0.1% | +1.8% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/news/key-support-levels-tested-wasde-report/

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