# New-Crop December Corn Falters on Bearish WASDE; Soybeans Maintain Strong Gains

> December corn futures fell about 18 cents after the May WASDE cut new-crop US corn exports by 325 million bushels to 2.450 billion. Corn production was estimated at 14.990 billion bushels, slightly below the trade average. Soybeans held strong gains, and the report was neutral for soybeans and bearish for wheat and corn.

- Date: 2021-05-12 · published 2021-05-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/7468-new-crop-december-corn-falters-on-bearish-wasde-soybeans-maintain-strong-gains
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [DDGS](https://feedsoft.ai/c/DDGS.md)

## Why it matters

The export cut and higher ethanol use lift new-crop corn carryout, which pressures corn prices. Soybeans held firm, and the bearish report also weighs on wheat.

## Read by commodity

- SOY: bullish ▲
- CORN: bearish ▼
- DDGS: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-08-13 | [WASDE steady on wheat, bearish on corn, soybeans - Grain Central](https://feedsoft.ai/events/51547-wasde-steady-on-wheat-bearish-on-corn-soybeans-grain-central.md) | +2.9% | +7.4% |
| CORN | 2019-11-17 | [November WASDE report shows bearish for corn; neutral for soybeans - Messenger News](https://feedsoft.ai/events/56022-november-wasde-report-shows-bearish-for-corn-neutral-for-soybeans-messenger-news.md) | +0.0% | +2.0% |
| CORN | 2021-10-11 | [Turner's Take Ag Marketing \| October WASDE Bearish for Soybeans and Corn](https://feedsoft.ai/events/44488-turner-s-take-ag-marketing-october-wasde-bearish-for-soybeans-and-corn.md) | -1.0% | +5.7% |
| CORN | 2019-04-09 | [WASDE Bearish as Expected on Corn and Wheat, Neutral on Soybeans](https://feedsoft.ai/events/59543-wasde-bearish-as-expected-on-corn-and-wheat-neutral-on-soybeans.md) | +1.8% | -0.5% |
| CORN | 2019-08-12 | [Corn futures fall 6% after bearish USDA crop report; soybeans down 1.3%](https://feedsoft.ai/events/11736-corn-futures-fall-6-after-bearish-usda-crop-report-soybeans-down-1-3.md) | -6.0% | -8.6% |
| WHEAT | 2020-08-13 | [WASDE steady on wheat, bearish on corn, soybeans - Grain Central](https://feedsoft.ai/events/51547-wasde-steady-on-wheat-bearish-on-corn-soybeans-grain-central.md) | +0.7% | +11.5% |
| WHEAT | 2021-12-09 | [USDA maintains corn, soybean stocks estimates, gives bearish wheat figures in December WASDE \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/43523-usda-maintains-corn-soybean-stocks-estimates-gives-bearish-wheat-figures-in.md) | -6.6% | -3.3% |
| WHEAT | 2019-04-09 | [WASDE Bearish as Expected on Corn and Wheat, Neutral on Soybeans](https://feedsoft.ai/events/59543-wasde-bearish-as-expected-on-corn-and-wheat-neutral-on-soybeans.md) | -0.5% | -10.8% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2021/05/12/new-crop-december-corn-falters-wasde

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