# Ahead of the Open | July 12, 2021 - Pro Farmer

> Pro Farmer reports corn and soybeans were mildly firmer overnight ahead of USDA's July crop reports, with weekend rains ample across most of the Midwest except northern areas. Spring wheat rose while winter wheat slipped. USDA will update its balance sheets without survey-based crop estimates, and analysts expect old-crop corn carryover to be trimmed and wheat carryover to slide.

- Date: 2021-07-12 · published 2021-07-12T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/7781-ahead-of-the-open-july-12-2021-pro-farmer
- 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

Expectations of a tighter old-crop corn carryover and lower wheat carryover support feed grain prices ahead of the report. Dry northern Corn Belt conditions add modest support, while favorable rains elsewhere limit upside.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-10-01 | [After the Bell \| October 1, 2021 - Pro Farmer](https://feedsoft.ai/events/11318-after-the-bell-october-1-2021-pro-farmer.md) | +0.7% | +3.7% |
| CORN | 2024-07-12 | [Grains End the Day Mixed \| Friday, July 12, 2024](https://feedsoft.ai/events/5654-grains-end-the-day-mixed-friday-july-12-2024.md) | -2.4% | -2.7% |
| CORN | 2018-06-18 | [Market Trends Commentary for June-July 2018 - Grain Farmers of Ontario](https://feedsoft.ai/events/12355-market-trends-commentary-for-june-july-2018-grain-farmers-of-ontario.md) | -0.9% | -3.9% |
| CORN | 2019-07-22 | [Feedback From The Field - July 22, 2019](https://feedsoft.ai/events/57924-feedback-from-the-field-july-22-2019.md) | -2.0% | -10.6% |
| CORN | 2024-11-08 | [PF Reaction to USDA's Reports \| November 8, 2024 - Pro Farmer](https://feedsoft.ai/events/27341-pf-reaction-to-usda-s-reports-november-8-2024-pro-farmer.md) | -1.4% | -2.0% |
| SOY | 2018-06-18 | [Market Trends Commentary for June-July 2018 - Grain Farmers of Ontario](https://feedsoft.ai/events/12355-market-trends-commentary-for-june-july-2018-grain-farmers-of-ontario.md) | -1.2% | -8.4% |
| SOY | 2019-07-22 | [Feedback From The Field - July 22, 2019](https://feedsoft.ai/events/57924-feedback-from-the-field-july-22-2019.md) | -2.0% | -3.8% |
| SOY | 2024-11-08 | [PF Reaction to USDA's Reports \| November 8, 2024 - Pro Farmer](https://feedsoft.ai/events/27341-pf-reaction-to-usda-s-reports-november-8-2024-pro-farmer.md) | -2.9% | -2.1% |

## Sources

- profarmer.com: https://www.profarmer.com/news/ahead-open/ahead-open-july-12-2021

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