# Mixed reports churn markets

> USDA's October WASDE cut the soybean yield forecast by a full bushel per acre and reduced soybean carryout more than expected, while corn harvested acres were set at 81.8 million and corn production at 13.779 billion bushels, above trade estimates. Corn and wheat fell after the report, while soybeans rose modestly.

- Date: 2019-10-10 · published 2019-10-10T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/8768-mixed-reports-churn-markets
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A tighter soybean balance sheet supports soybean meal prices, while larger-than-expected corn production is bearish for corn and feed grain costs.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-07-11 | [USDA reports offer mixed view](https://feedsoft.ai/events/58044-usda-reports-offer-mixed-view.md) | -1.2% | -5.0% |
| SOY | 2016-06-05 | [US report drives protein markets](https://feedsoft.ai/events/9129-us-report-drives-protein-markets.md) | +4.1% | +3.2% |
| SOY | 2019-09-12 | [Futures gyrate with mixed reports](https://feedsoft.ai/events/57012-futures-gyrate-with-mixed-reports.md) | +4.1% | +8.2% |
| SOY | 2021-05-12 | [Markets mixed on new crop estimates](https://feedsoft.ai/events/47043-markets-mixed-on-new-crop-estimates.md) | -3.9% | -4.6% |
| SOY | 2019-06-28 | [USDA Reports Surprise Sends Corn Market Reeling](https://feedsoft.ai/events/58539-usda-reports-surprise-sends-corn-market-reeling.md) | -1.7% | -0.5% |
| CORN | 2019-07-11 | [USDA reports offer mixed view](https://feedsoft.ai/events/58044-usda-reports-offer-mixed-view.md) | +0.2% | -5.9% |
| CORN | 2019-04-09 | [Futures mixed after mixed USDA reports](https://feedsoft.ai/events/59544-futures-mixed-after-mixed-usda-reports.md) | +1.8% | -0.5% |
| CORN | 2021-05-12 | [Markets mixed on new crop estimates](https://feedsoft.ai/events/47043-markets-mixed-on-new-crop-estimates.md) | -7.8% | -3.3% |

## Sources

- farmprogress.com: https://www.farmprogress.com/marketing/mixed-reports-churn-markets

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