# 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 1,800 mil bu vs prior 1,465 (+22.9%, bearish); US soybean ending stocks 295 mil bu vs prior 375 (-21.3%, bullish); US wheat ending stocks 923 mil bu vs prior 846 (+9.1%, bearish); US corn exports 2,675 mil bu vs prior 2,550 (+4.9%, bullish); US corn season-avg farm price 4.2 $/bu vs prior 4.35 (-3.4%, bearish); US soybean meal price 310 $/st vs prior 300 (+3.3%, bullish); US soybean season-avg farm price 10.25 $/bu vs prior 9.95 (+3.0%, bullish); US soybean meal exports 18,000 k st vs prior 17,400 (+3.4%, bullish); World corn ending stocks 277.84 mmt vs prior 287.65 (-3.4%, bullish); US soybean oil price 46 ¢/lb vs prior 45 (+2.2%, bullish); US wheat exports 800 mil bu vs prior 820 (-2.4%, bearish).

- Date: 2025-05-12 · published 2025-05-12T12:00:00.000Z
- Category: report · region US
- Page: https://feedsoft.ai/events/1229-usda-wasde-report-2025-05-12
- 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 |
| --- | --- | --- | --- | --- | --- |
| OATS | 2025-05-14 | 1 | -9.9% | -5.4 | The May 12 WASDE showed much larger US corn ending stocks and lower projected corn and wheat prices, a bearish read-across to oats as a competing feed grain that plausibly drove selling in oat futures. |
| SBM | 2025-05-14 | 1 | +3.0% | 3.8 | The May 12 WASDE showed much lower soybean ending stocks and a higher projected meal price and meal exports, which supported soybean complex prices and may have carried into the May 14 move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2018-08-10 | [USDA WASDE report](https://feedsoft.ai/events/1154-usda-wasde-report-2018-08-10.md) | -7.5% | -9.1% |
| 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% |
| 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

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