# August WASDE cuts export expectations for corn, soybeans and wheat - Agweek | #1 source for agriculture news, farming, markets

> The August 2023 WASDE report cut U.S. export expectations for corn, soybeans and wheat, and also trimmed domestic feed use for corn and soybeans. Markets rose early on Friday before closing lower.

- Date: 2023-08-11 · published 2023-08-11T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/12249-august-wasde-cuts-export-expectations-for-corn-soybeans-and-wheat-agweek-1
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Lower export and feed demand points to larger ending stocks unless prices fall enough to revive demand, so the net price effect is mildly bearish for corn and soft red and HRW wheat, while smaller crop production is friendly to spring wheat and soybeans.

## Read by commodity

- SBM: neutral
- SOY: neutral
- CORN: bearish ▼
- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2023-08-18 | 5 | -10.1% | -2.8 | The August WASDE cut US export and feed use expectations for soybeans, a bearish demand signal, and markets closed lower after an early rise. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-07-12 | [July WASDE optimistic for wheat but less so for corn and soybeans - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/46005-july-wasde-optimistic-for-wheat-but-less-so-for-corn-and-soybeans-agweek-1.md) | -6.7% | -7.2% |
| CORN | 2022-04-08 | [April WASDE within expectations on U.S. balance sheet; global corn and wheat adjusted - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/41797-april-wasde-within-expectations-on-u-s-balance-sheet-global-corn-and-wheat.md) | -0.7% | -6.4% |
| CORN | 2017-10-15 | [WASDE Report surprises soybean market - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/68415-wasde-report-surprises-soybean-market-agweek-1-source-for-agriculture-news.md) | -1.9% | -5.7% |
| CORN | 2024-10-11 | [WASDE surprises with higher wheat stocks than expected - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/27803-wasde-surprises-with-higher-wheat-stocks-than-expected-agweek-1-source-for.md) | -1.8% | +0.9% |
| CORN | 2020-07-10 | [July WASDE report gets bearish reaction - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/5364-july-wasde-report-gets-bearish-reaction-agweek-1-source-for-agriculture-news.md) | -4.9% | -7.5% |
| SOY | 2020-07-10 | [July WASDE report gets bearish reaction - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/5364-july-wasde-report-gets-bearish-reaction-agweek-1-source-for-agriculture-news.md) | -0.5% | -1.9% |
| SOY | 2020-05-12 | [WASDE report shows new crop ending stocks shrinking, corn stocks rising - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/53058-wasde-report-shows-new-crop-ending-stocks-shrinking-corn-stocks-rising-agweek-1.md) | -0.9% | +1.3% |
| SOY | 2021-05-12 | [May WASDE report gives first look at new crop outlook - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/47042-may-wasde-report-gives-first-look-at-new-crop-outlook-agweek-1-source-for.md) | -3.9% | -4.6% |

## Sources

- agweek.com: https://www.agweek.com/business/markets/august-wasde-cuts-export-expectations-for-corn-soybeans-and-wheat

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