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The USDA's May 12, 2026 WASDE introduced first 2026/27 estimates. U.S. soybean ending stocks came in at 310 mb, well below the 364 mb trade expectation, and wheat stocks at 762 mb also missed expectations, while corn stocks at 1,957 mb exceeded them.
Tighter-than-expected new-crop soybean and wheat stocks support prices, while larger corn stocks weigh on corn values. Feed buyers should expect firmer soybean meal and wheat feed costs.
iowafarmbureau.comMay 14, 2026After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Wheat ending stocks of 762 mb missed expectations, a bullish surprise for prices.
