# 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 corn ending stocks 2,485 mil bu vs prior 2,035 (+22.1%, bearish); US soybean meal price 290 $/st vs prior 315 (-7.9%, bearish); US corn season-avg farm price 3.3 $/bu vs prior 3.55 (-7.0%, bearish); US soybean ending stocks 970 mil bu vs prior 895 (+8.4%, bearish); US soybean season-avg farm price 8.1 $/bu vs prior 8.6 (-5.8%, bearish); World soybean ending stocks 113.09 mmt vs prior 107.36 (+5.3%, bearish); US wheat ending stocks 1,141 mil bu vs prior 1,087 (+5.0%, bearish); US wheat exports 900 mil bu vs prior 945 (-4.8%, bearish); US soybean exports 1,950 mil bu vs prior 1,875 (+4.0%, bullish); US soybean oil price 29.5 ¢/lb vs prior 29 (+1.7%, bullish).

- Date: 2019-05-10 · published 2019-05-10T12:00:00.000Z
- Category: report · region US
- Page: https://feedsoft.ai/events/1162-usda-wasde-report-2019-05-10
- 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 |
| --- | --- | --- | --- | --- | --- |
| OATS | 2019-05-13 | 1 | -9.9% | -6.6 | The May 10 WASDE showed a large bearish surprise in US corn ending stocks and lower projected corn and wheat prices, and oats typically follow the broader feed grain complex, so the sharp drop on the next trading day (May 13) is plausibly linked to this repricing. |
| SBM | 2019-05-15 | 5 | +6.3% | 3.2 | The May 10 WASDE lowered the soybean meal price forecast and raised US soybean and world stocks, a bearish supply shift for meal. |
| SBM | 2019-05-13 | 1 | +3.5% | 4.2 | The WASDE of 2019-05-10 raised US soybean stocks and cut the projected meal price, a bearish supply backdrop that left prices vulnerable to the trade shock. |
| KWHEAT | 2019-05-12 | 1 | +4.7% | 3.3 | The May 10 WASDE raised US wheat ending stocks and cut exports, a bearish surprise that could have moved HRW sharply, though the direction of the 4.68% move is unspecified and other grain balance sheets were also bearish. |

## 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 | 2018-08-10 | [USDA WASDE report](https://feedsoft.ai/events/1154-usda-wasde-report-2018-08-10.md) | -7.5% | -9.1% |
| 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% |
| 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 | 2018-08-10 | [USDA WASDE report](https://feedsoft.ai/events/1154-usda-wasde-report-2018-08-10.md) | -0.3% | -6.3% |

## 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.