# 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 oil price 65 ¢/lb vs prior 36 (+80.6%, bullish); US corn season-avg farm price 5.7 $/bu vs prior 4 (+42.5%, bullish); US soybean season-avg farm price 13.85 $/bu vs prior 10.55 (+31.3%, bullish); US soybean ending stocks 140 mil bu vs prior 175 (-20.0%, bullish); US corn ending stocks 1,507 mil bu vs prior 1,702 (-11.5%, bullish); US soybean meal price 400 $/st vs prior 370 (+8.1%, bullish); US wheat ending stocks 774 mil bu vs prior 862 (-10.2%, bullish); US wheat exports 900 mil bu vs prior 985 (-8.6%, bearish); US corn exports 2,450 mil bu vs prior 2,650 (-7.5%, bearish); World soybean ending stocks 91.1 mmt vs prior 85.64 (+6.4%, bearish); US soybean exports 2,075 mil bu vs prior 2,200 (-5.7%, bearish); US soybean meal exports 14,300 k st vs prior 14,000 (+2.1%, bullish).

- Date: 2021-05-12 · published 2021-05-12T12:00:00.000Z
- Category: report · region US
- Page: https://feedsoft.ai/events/1182-usda-wasde-report-2021-05-12
- 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 |
| --- | --- | --- | --- | --- | --- |
| SBM | 2021-05-12 | 1 | -4.8% | -4.1 | The May 12 WASDE raised soybean ending stocks for the new crop and cut exports, and the large price and balance-sheet revisions drove sharp repricing in soy products that day. |
| CORN | 2021-05-16 | 5 | -8.8% | -3.1 | The May 12 WASDE gave the largest data shock of the week; corn exports were cut and new-crop supplies looked comfortable, and the report was less friendly than the trade expected, which likely triggered long liquidation after the rally. |
| SBM | 2021-05-17 | 5 | -7.9% | -3.3 | The May 12 WASDE, with higher new-crop soybean stocks and larger world stocks, triggered a sell-the-news reversal after a run-up into the report. |
| SOY | 2021-05-17 | 5 | -5.2% | -2.9 | May WASDE showed higher world soybean stocks and lower US export forecasts, and a neutral-to-bullish report failed to sustain the rally, prompting selling. |

## 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 | 2018-08-10 | [USDA WASDE report](https://feedsoft.ai/events/1154-usda-wasde-report-2018-08-10.md) | -7.5% | -9.1% |
| 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 | 2018-08-10 | [USDA WASDE report](https://feedsoft.ai/events/1154-usda-wasde-report-2018-08-10.md) | -0.3% | -6.3% |
| SOY | 2020-11-10 | [USDA WASDE report](https://feedsoft.ai/events/1180-usda-wasde-report-2020-11-10.md) | +4.4% | +3.7% |
| SOY | 2018-03-08 | [USDA WASDE report](https://feedsoft.ai/events/1149-usda-wasde-report-2018-03-08.md) | -2.5% | -2.3% |

## Sources

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

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