# USDA WASDE report

> Monthly World Agricultural Supply and Demand Estimates, 12:00 ET. Updates US and world balance sheets and season-average price projections. Surprises: US soybean ending stocks 785 mil bu vs prior 580 (+35.3%, bearish); US corn ending stocks 1,684 mil bu vs prior 1,552 (+8.5%, bearish); US soybean meal price 315 $/st vs prior 335 (-6.0%, bearish); World soybean ending stocks 105.94 mmt vs prior 98.27 (+7.8%, bearish); US corn season-avg farm price 3.6 $/bu vs prior 3.8 (-5.3%, bearish); US corn exports 2,350 mil bu vs prior 2,225 (+5.6%, bullish); US wheat exports 1,025 mil bu vs prior 975 (+5.1%, bullish); US wheat ending stocks 935 mil bu vs prior 985 (-5.1%, bullish); US soybean season-avg farm price 8.9 $/bu vs prior 9.25 (-3.8%, bearish); World corn ending stocks 155.49 mmt vs prior 151.96 (+2.3%, bearish).

- Date: 2018-08-10 · published 2018-08-10T12:00:00.000Z
- Category: report · region US
- Page: https://feedsoft.ai/events/1154-usda-wasde-report-2018-08-10
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Oats](https://feedsoft.ai/c/OATS.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md), [Barley](https://feedsoft.ai/c/BARLEY.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Chicken](https://feedsoft.ai/c/CHICKEN.md)

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2018-08-09 | 1 | -4.7% | -3.5 | The WASDE surprise of a 35% rise in US soybean ending stocks to 785 million bushels, plus lower price projections, was a strongly bearish supply shock. |
| CORN | 2018-08-13 | 1 | -7.8% | -5.7 | The August WASDE raised US corn ending stocks 8.5% above the prior estimate on a larger crop and cut the season-average price to $3.60, a bearish supply surprise; the 1-day window ending 2018-08-13 likely captures the repricing after the Friday noon release. |
| SBM | 2018-08-09 | 1 | -3.1% | -3.0 | WASDE balance sheet surprises, with soybean ending stocks up 35% and the soybean meal price forecast cut 6%, were bearish for soymeal. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-11-10 | [USDA WASDE report](https://feedsoft.ai/events/1180-usda-wasde-report-2020-11-10.md) | +9.7% | +8.7% |
| CORN | 2018-03-08 | [USDA WASDE report](https://feedsoft.ai/events/1149-usda-wasde-report-2018-03-08.md) | +2.4% | +5.3% |
| CORN | 2023-05-12 | [USDA WASDE report](https://feedsoft.ai/events/1205-usda-wasde-report-2023-05-12.md) | -8.7% | -8.7% |
| CORN | 2026-07-10 | [USDA WASDE report](https://feedsoft.ai/events/1242-usda-wasde-report-2026-07-10.md) | +0.6% | +1.4% |
| CORN | 2022-08-12 | [USDA WASDE report](https://feedsoft.ai/events/1196-usda-wasde-report-2022-08-12.md) | -0.7% | -1.6% |
| SOY | 2018-03-08 | [USDA WASDE report](https://feedsoft.ai/events/1149-usda-wasde-report-2018-03-08.md) | -2.5% | -2.3% |
| SOY | 2020-11-10 | [USDA WASDE report](https://feedsoft.ai/events/1180-usda-wasde-report-2020-11-10.md) | +4.4% | +3.7% |
| SOY | 2023-05-12 | [USDA WASDE report](https://feedsoft.ai/events/1205-usda-wasde-report-2023-05-12.md) | -7.6% | -3.9% |

## Sources

- USDA WAOB: https://www.usda.gov/oce/commodity/wasde

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