# Farm Futures afternoon market report

> Grain markets fell Friday after USDA's July WASDE report was read as mixed to bearish. Wheat dropped by double digits, soybeans slumped on technical selling, and corn saw slight gains despite USDA projecting production above 15 billion bushels.

- Date: 2024-07-15 · published 2024-07-15T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/9367-farm-futures-afternoon-market-report
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Ample supply projections from the WASDE weigh on feed grain and wheat prices, with soybeans pressured by technical selling and lower meal and oil moves.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2024-07-14 | 1 | -7.5% | -6.3 | Grains fell after a mixed-to-bearish WASDE with soybeans slumping on technical selling, adding downward pressure to the complex. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2019-02-08 | [Futures mixed after USDA reports](https://feedsoft.ai/events/60560-futures-mixed-after-usda-reports.md) | +0.8% | -2.1% |
| CORN | 2016-12-12 | [Grain market steady after USDA report - Farmers Weekly](https://feedsoft.ai/events/73541-grain-market-steady-after-usda-report-farmers-weekly.md) | +1.3% | +1.3% |
| CORN | 2019-09-12 | [Futures gyrate with mixed reports](https://feedsoft.ai/events/57012-futures-gyrate-with-mixed-reports.md) | +4.8% | +9.0% |
| CORN | 2022-01-17 | [Market Report - 17 January 2022 \| AHDB](https://feedsoft.ai/events/7369-market-report-17-january-2022-ahdb.md) | -0.5% | +6.0% |
| CORN | 2021-11-29 | [Market Report - 29 November 2021 \| AHDB](https://feedsoft.ai/events/12236-market-report-29-november-2021-ahdb.md) | -3.0% | +0.6% |
| SOY | 2021-08-20 | [Market turns quiet after report - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/12608-market-turns-quiet-after-report-agweek-1-source-for-agriculture-news-farming.md) | +3.4% | -2.9% |
| SOY | 2023-01-30 | [soy price development market report \| Agriculture](https://feedsoft.ai/events/37811-soy-price-development-market-report-agriculture.md) | +1.5% | +0.6% |
| SOY | 2024-10-23 | [Market Report OCTOBER 2024 – Lipsa](https://feedsoft.ai/events/27983-market-report-october-2024-lipsa.md) | -2.7% | +0.7% |

## Sources

- feedstuffs.com: https://www.feedstuffs.com/market-news/higher-wheat-production-lowers-prices

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