# Grain Market Summary 7.12.24

> Sept corn closed up 1.75 cents on the day but down 8.5 cents on the week, while Sept KC, Chicago and Minneapolis wheat closed lower. USDA raised US 2024/25 wheat ending stocks to 856 million bushels and pegged US production at 2.008 billion bushels, the largest in eight years.

- Date: 2024-07-12 · published 2024-07-12T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/9374-grain-market-summary-7-12-24
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A larger-than-expected US wheat crop and higher stocks point to continued bearish pressure on wheat and weigh on feed grain prices.

## Read by commodity

- CORN: neutral
- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| KWHEAT | 2024-07-14 | 1 | -8.0% | -4.0 | USDA raised ending stocks to 856 mil bu and put US production at 2.008 billion bu, the largest in eight years, and KC, Chicago and Minneapolis wheat closed lower, which supports the bearish supply shock. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-12-05 | [Grains Report 12/05/2024 - Market InsightsMarket Insights](https://feedsoft.ai/events/27010-grains-report-12-05-2024-market-insightsmarket-insights.md) | +1.1% | +1.9% |
| WHEAT | 2025-03-11 | [Daily Market Wire 12 March 2025 - Grain Central](https://feedsoft.ai/events/25517-daily-market-wire-12-march-2025-grain-central.md) | +5.7% | +1.9% |
| WHEAT | 2020-06-12 | [Daily Market Wire 12 June 2020 - Grain Central](https://feedsoft.ai/events/4927-daily-market-wire-12-june-2020-grain-central.md) | -1.3% | -4.6% |
| WHEAT | 2022-01-12 | [Daily Market Wire 13 January 2022 - Grain Central](https://feedsoft.ai/events/43098-daily-market-wire-13-january-2022-grain-central.md) | +3.9% | +2.0% |
| WHEAT | 2024-07-14 | [Daily Market Wire 15 July 2024 - Grain Central](https://feedsoft.ai/events/29204-daily-market-wire-15-july-2024-grain-central.md) | -3.2% | -2.3% |
| KWHEAT | 2020-06-12 | [Daily Market Wire 12 June 2020 - Grain Central](https://feedsoft.ai/events/4927-daily-market-wire-12-june-2020-grain-central.md) | -4.1% | +0.1% |
| KWHEAT | 2025-08-22 | [Grain market review: Wheat \| World Grain](https://feedsoft.ai/events/23378-grain-market-review-wheat-world-grain.md) | -3.3% | +0.8% |
| KWHEAT | 2025-07-14 | [Daily Market Wire 14 July 2025 - Grain Central](https://feedsoft.ai/events/11931-daily-market-wire-14-july-2025-grain-central.md) | +4.9% | +2.8% |

## Sources

- westernagnetwork.com: https://westernagnetwork.com/grain-market-summary-71224

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