# Markets React as USDA Releases First Look at 2026/27 Estimates

> 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.

- Date: 2026-05-14 · published 2026-05-14T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/19193-markets-react-as-usda-releases-first-look-at-2026-27-estimates
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

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.

## Read by commodity

- SOY: bullish ▲
- CORN: bearish ▼
- WHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2026-05-11 | 1 | +3.2% | 3.6 | Wheat ending stocks of 762 mb missed expectations, a bullish surprise for prices. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2026-06-01 | [USDA Releases First New-Crop Estimates in Today's WASDE](https://feedsoft.ai/events/19197-usda-releases-first-new-crop-estimates-in-today-s-wasde.md) | -5.5% | -6.6% |
| SOY | 2023-08-25 | [Pro Farmer releases 2023 national corn and soybean estimates - Pro Farmer](https://feedsoft.ai/events/13255-pro-farmer-releases-2023-national-corn-and-soybean-estimates-pro-farmer.md) | -0.4% | -5.1% |
| SOY | 2021-05-12 | [Markets mixed on new crop estimates](https://feedsoft.ai/events/47043-markets-mixed-on-new-crop-estimates.md) | -3.9% | -4.6% |
| SOY | 2019-09-30 | [USDA Releases Market-Friendly Data for Corn and Soybeans](https://feedsoft.ai/events/57009-usda-releases-market-friendly-data-for-corn-and-soybeans.md) | +3.8% | +4.2% |
| SOY | 2023-10-12 | [CBOT weekly outlook: Markets react bullishly to USDA report - AgCanada](https://feedsoft.ai/events/33588-cbot-weekly-outlook-markets-react-bullishly-to-usda-report-agcanada.md) | +4.7% | +7.7% |
| WHEAT | 2020-01-15 | [Markets react as USDA reduces production estimates \| The Rural \| Wagga Wagga, NSW](https://feedsoft.ai/events/55031-markets-react-as-usda-reduces-production-estimates-the-rural-wagga-wagga-nsw.md) | +0.0% | -5.4% |
| WHEAT | 2026-06-01 | [USDA Releases First New-Crop Estimates in Today's WASDE](https://feedsoft.ai/events/19197-usda-releases-first-new-crop-estimates-in-today-s-wasde.md) | -2.6% | -1.5% |
| WHEAT | 2021-12-15 | [Adjusting to USDA Estimates in a Record-Setting Marketing Year](https://feedsoft.ai/events/43646-adjusting-to-usda-estimates-in-a-record-setting-marketing-year.md) | +4.2% | +7.4% |

## Sources

- iowafarmbureau.com: https://www.iowafarmbureau.com/Article/Markets-React-as-USDA-Releases-First-Look-at-202627-Estimates

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