# Futures Files - Minot Daily News

> December corn fell to a low of $5.12 on Friday after hitting $6.11 on July 1, while soft red wheat and soybeans tumbled, though oats and Minneapolis wheat recovered amid drought in their regions. Drought in the western US has boosted grasshopper populations and rangeland stress for cattle, with ranchers facing the worst feeding conditions since 1977. Pest concerns including rootworm and Japanese beetles are also noted.

- Date: 2021-07-12 · published 2021-07-12T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/7779-futures-files-minot-daily-news
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Oats](https://feedsoft.ai/c/OATS.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

Western drought stressing rangeland could lift demand for supplemental feed and grain, supporting feed prices. Pest pressure adds yield risk, though broad crop conditions keep corn prices under pressure.

## Read by commodity

- SOY: bearish ▼
- CORN: neutral
- OATS: bullish ▲
- WHEAT: bearish ▼
- LCATTLE: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2021-07-18 | 5 | -11.2% | -3.3 | December corn dropped from $6.11 on July 1 to $5.12, reflecting premium unwinding as weather and rain eased crop concerns. |
| CORN | 2021-07-14 | 1 | -10.9% | -6.4 | Describes December corn sliding from $6.11 on July 1 to $5.12 by July 9, showing the sharp selloff and sentiment leading into the move, though the date is before the July 14 one-day drop. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-04-21 | [Daily Grain Report](https://feedsoft.ai/events/8722-daily-grain-report.md) | +1.4% | +2.7% |
| CORN | 2018-11-01 | [Missouri yields vary widely from field to field - Brownfield Ag News](https://feedsoft.ai/events/61894-missouri-yields-vary-widely-from-field-to-field-brownfield-ag-news.md) | +3.6% | -4.4% |
| CORN | 2018-02-14 | [U.S. grains: Soymeal rally lifts soybean futures - AgCanada](https://feedsoft.ai/events/10004-u-s-grains-soymeal-rally-lifts-soybean-futures-agcanada.md) | -0.2% | +5.0% |
| CORN | 2017-05-02 | [Grain prices: wheat futures bounce back - 02 May 2017 Premium](https://feedsoft.ai/events/6139-grain-prices-wheat-futures-bounce-back-02-may-2017-premium.md) | -0.6% | +1.5% |
| CORN | 2025-10-16 | [Harvest season in full swing in the Midwest - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/13047-harvest-season-in-full-swing-in-the-midwest-agweek-1-source-for-agriculture.md) | -0.0% | +2.8% |
| OATS | 2016-10-28 | [Futures File: Could corn follow oats' increase?](https://feedsoft.ai/events/9237-futures-file-could-corn-follow-oats-increase.md) | -4.3% | -12.8% |
| OATS | 2026-09-25 | [Oat futures climb nearly $1 as Canadian production drops 20%](https://feedsoft.ai/events/17516-oat-futures-climb-nearly-1-as-canadian-production-drops-20.md) | -2.8% | -10.9% |
| OATS | 2022-01-03 | [Oats futures on the rise — LC Marketing](https://feedsoft.ai/events/43203-oats-futures-on-the-rise-lc-marketing.md) | -2.2% | +1.8% |

## Sources

- minotdailynews.com: https://www.minotdailynews.com/life/business/2021/07/futures-files-105/

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