# WASDE update: Higher US corn and soybean supplies | articles | ING THINK

> The USDA raised its 2023/24 US corn production estimate to a record 15.34 billion bushels and soybean ending stocks to 280 million bushels, both above expectations. Global corn ending stocks were also raised on larger supplies in the US and China.

- Date: 2024-01-15 · published 2024-01-15T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/11446-wasde-update-higher-us-corn-and-soybean-supplies-articles-ing-think
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Larger-than-expected US corn and soybean supplies are bearish for prices and point to ample feed grain availability for buyers.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-09-13 | [WASDE update: Tighter wheat and looser corn market \| articles \| ING THINK](https://feedsoft.ai/events/34042-wasde-update-tighter-wheat-and-looser-corn-market-articles-ing-think.md) | -7.1% | -5.9% |
| CORN | 2022-01-13 | [WASDE update: Poor South American weather weighs on supply prospects \| articles \| ING THINK](https://feedsoft.ai/events/43105-wasde-update-poor-south-american-weather-weighs-on-supply-prospects-articles.md) | -1.3% | +5.3% |
| CORN | 2021-07-13 | [WASDE update: Global wheat stocks tighten \| articles \| ING THINK](https://feedsoft.ai/events/46007-wasde-update-global-wheat-stocks-tighten-articles-ing-think.md) | -10.7% | -12.3% |
| CORN | 2022-11-09 | [USDA Projects Higher Corn and Soybean Supply](https://feedsoft.ai/events/38641-usda-projects-higher-corn-and-soybean-supply.md) | +1.6% | -5.7% |
| CORN | 2023-03-09 | [WASDE update: Argentine crops downgraded \| articles \| ING THINK](https://feedsoft.ai/events/36822-wasde-update-argentine-crops-downgraded-articles-ing-think.md) | -1.0% | -0.0% |
| SOY | 2021-04-12 | [WASDE update: Tightening corn balance \| articles \| ING THINK](https://feedsoft.ai/events/47548-wasde-update-tightening-corn-balance-articles-ing-think.md) | +2.2% | +15.5% |
| SOY | 2022-08-15 | [WASDE update: Further tightening for corn expected \| articles \| ING THINK](https://feedsoft.ai/events/6533-wasde-update-further-tightening-for-corn-expected-articles-ing-think.md) | -10.8% | -7.2% |
| SOY | 2022-11-09 | [USDA Projects Higher Corn and Soybean Supply](https://feedsoft.ai/events/38641-usda-projects-higher-corn-and-soybean-supply.md) | +0.9% | +1.9% |

## Sources

- think.ing.com: https://think.ing.com/articles/wasde-update-higher-us-corn-and-soybean-supplies150124/

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