# 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 3,318 mil bu vs prior 2,092 (+58.6%, bearish); US corn exports 2,150 mil bu vs prior 1,725 (+24.6%, bullish); US soybean ending stocks 405 mil bu vs prior 480 (-15.6%, bullish); US soybean exports 2,050 mil bu vs prior 1,775 (+15.5%, bullish); US corn season-avg farm price 3.2 $/bu vs prior 3.6 (-11.1%, bearish); World corn ending stocks 339.62 mmt vs prior 303.17 (+12.0%, bearish); US soybean season-avg farm price 8.2 $/bu vs prior 8.65 (-5.2%, bearish); US soybean meal price 290 $/st vs prior 305 (-4.9%, bearish); US wheat ending stocks 909 mil bu vs prior 970 (-6.3%, bullish); US soybean oil price 29 ¢/lb vs prior 30 (-3.3%, bearish); US wheat exports 950 mil bu vs prior 985 (-3.6%, bearish); US soybean meal exports 13,100 k st vs prior 13,450 (-2.6%, bearish); World soybean ending stocks 98.39 mmt vs prior 100.45 (-2.1%, bullish).

- Date: 2020-05-12 · published 2020-05-12T12:00:00.000Z
- Category: report · region US
- Page: https://feedsoft.ai/events/1174-usda-wasde-report-2020-05-12
- 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 |
| --- | --- | --- | --- | --- | --- |
| KWHEAT | 2020-05-12 | 1 | -5.3% | -3.0 | The May 12 WASDE was released on the day of the drop; it cut US wheat exports and signaled larger world supplies and record global production, which likely triggered HRW selling despite lower US ending stocks. |
| KWHEAT | 2020-05-14 | 5 | -10.3% | -3.0 | WASDE release lowered US wheat exports and was bearish for grains broadly, though US wheat ending stocks vs prior was bullish, so the net effect is mixed. |

## 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.