# Markets suffer sharp decline | Farm Online | ACT

> US grain futures fell sharply at the end of the week after a rally, with corn, soybeans and wheat all down from their prior daily close. Wheat had dropped about 60 US cents a bushel from its peak a week earlier. Rains in South America boosted soil moisture in drought-hit parts of Brazil and Argentina, and heavy snow in Russia protected winter wheat.

- Date: 2021-01-24 · published 2021-01-24T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/9541-markets-suffer-sharp-decline-farm-online-act
- 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

Profit-taking combined with improved South American moisture and Russian winter wheat protection weighs on corn, soybean and wheat prices. Better crop prospects in key exporting regions reduce the risk premium built during the rally.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-08-10 | [US corn and soybean futures decline - Markets - Business Recorder](https://feedsoft.ai/events/12610-us-corn-and-soybean-futures-decline-markets-business-recorder.md) | +1.7% | -6.0% |
| CORN | 2020-05-05 | [Barley bounce in spite of other options \| Farm Online \| ACT](https://feedsoft.ai/events/53076-barley-bounce-in-spite-of-other-options-farm-online-act.md) | +0.1% | +1.4% |
| CORN | 2026-06-07 | [Corn, soybeans futures decline on US weather, dollar strength - Markets - Business Recorder](https://feedsoft.ai/events/10646-corn-soybeans-futures-decline-on-us-weather-dollar-strength-markets-business.md) | -0.9% | +0.5% |
| CORN | 2021-03-25 | [Wheat nears 3-month low on supply prospects; soy, corn also decline - Markets - Business Recorder](https://feedsoft.ai/events/12661-wheat-nears-3-month-low-on-supply-prospects-soy-corn-also-decline-markets.md) | +1.0% | +7.5% |
| CORN | 2017-05-30 | [Market reacts to late rain patterns - Farm and Dairy](https://feedsoft.ai/events/71027-market-reacts-to-late-rain-patterns-farm-and-dairy.md) | -0.2% | -3.5% |
| SOY | 2021-08-10 | [US corn and soybean futures decline - Markets - Business Recorder](https://feedsoft.ai/events/12610-us-corn-and-soybean-futures-decline-markets-business-recorder.md) | -4.0% | -11.5% |
| SOY | 2026-06-07 | [Corn, soybeans futures decline on US weather, dollar strength - Markets - Business Recorder](https://feedsoft.ai/events/10646-corn-soybeans-futures-decline-on-us-weather-dollar-strength-markets-business.md) | -0.7% | +6.7% |
| SOY | 2021-03-25 | [Wheat nears 3-month low on supply prospects; soy, corn also decline - Markets - Business Recorder](https://feedsoft.ai/events/12661-wheat-nears-3-month-low-on-supply-prospects-soy-corn-also-decline-markets.md) | +0.3% | +7.0% |

## Sources

- farmonline.com.au: https://www.farmonline.com.au/story/7098299/markets-suffer-sharp-decline/

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