# Bigger crop estimates send soybeans, corn lower - Brownfield Ag News

> Soybeans fell sharply on commercial and technical selling after USDA raised its record 2018 US production and yield estimates and increased new crop ending stocks. Corn also declined sharply on the higher production outlook and raised ending stocks, though dry conditions in parts of the Cornbelt could still cut yields. Soybean meal and oil fell alongside beans, while wheat posted a modest weekly decline.

- Date: 2018-08-08 · published 2018-08-08T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/8653-bigger-crop-estimates-send-soybeans-corn-lower-brownfield-ag-news
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Higher US production and ending stocks weigh on soybean meal, corn and feed grain prices, and the bearish USDA revision is the main price driver. Dry Cornbelt conditions are a residual upside risk.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼
- CANMEAL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2017-12-12 | [USDA lowers corn ending stocks estimate - Brownfield Ag News](https://feedsoft.ai/events/67346-usda-lowers-corn-ending-stocks-estimate-brownfield-ag-news.md) | +1.4% | +2.5% |
| WHEAT | 2019-02-08 | [USDA lowers U.S. corn, soybean ending stocks - Brownfield Ag News](https://feedsoft.ai/events/60555-usda-lowers-u-s-corn-soybean-ending-stocks-brownfield-ag-news.md) | +0.3% | -4.3% |
| WHEAT | 2017-10-12 | [USDA raises 2017 corn guess, lowers soybeans - Brownfield Ag News](https://feedsoft.ai/events/68314-usda-raises-2017-corn-guess-lowers-soybeans-brownfield-ag-news.md) | +0.0% | -3.9% |
| WHEAT | 2016-08-25 | [Soybeans, corn down, expecting record crops - Brownfield Ag News](https://feedsoft.ai/events/12395-soybeans-corn-down-expecting-record-crops-brownfield-ag-news.md) | -4.7% | -1.3% |
| WHEAT | 2018-01-12 | [USDA increases U.S. corn, soybean, wheat ending stocks estimates - Brownfield Ag News](https://feedsoft.ai/events/66935-usda-increases-u-s-corn-soybean-wheat-ending-stocks-estimates-brownfield-ag-news.md) | -0.2% | +5.8% |
| SOY | 2025-04-10 | [CONAB raises Brazil soybean, corn crop estimates - Brownfield Ag News](https://feedsoft.ai/events/13499-conab-raises-brazil-soybean-corn-crop-estimates-brownfield-ag-news.md) | +2.6% | +2.4% |
| SOY | 2018-09-12 | [USDA anticipates bigger U.S. corn, soybean supplies - Brownfield Ag News](https://feedsoft.ai/events/62986-usda-anticipates-bigger-u-s-corn-soybean-supplies-brownfield-ag-news.md) | -0.8% | +5.2% |
| SOY | 2017-09-12 | [USDA raises corn, soybean production, yield estimates - Brownfield Ag News](https://feedsoft.ai/events/68802-usda-raises-corn-soybean-production-yield-estimates-brownfield-ag-news.md) | +1.4% | +1.3% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/bigger-crop-estimates-send-soybeans-corn-lower/
- news.agu.org: https://news.agu.org/press-release/impacts-of-el-nino-to-intensify-as-climate-warms-new-study-finds
- phys.org: https://phys.org/news/2018-08-digestibility-grain-milling-oilseed-co-products.html
- iowafarmbureau.com: https://www.iowafarmbureau.com/Article/USDA-forecasts-big-corn-soybean-crops
- mprnews.org: https://www.mprnews.org/story/2018/08/10/grain-prices-tumble-new-crop-report-predicts-big-harvest

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