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The USDA released its April 2026 WASDE on April 9, leaving most U.S. corn and soybean balance sheet figures unchanged while U.S. wheat ending stocks rose 8 million bushels to 938 million. World wheat ending stocks rose 6.12 MMT to 283.12 MMT, above expectations, while world corn stocks increased and world soybean stocks fell slightly.
Higher-than-expected global wheat stocks add bearish pressure to wheat and, through feed substitution, can weigh on feed grain values. Corn and soybean balances were largely neutral, so the report offers limited support to feed ingredient prices.
iowafarmbureau.comAlex Robinson, Research Economist, Decision Innovation Solutions on behalf of Iowa Farm BureauApr 13, 2026After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 138 past bearish report events, Wheat (HRW) moved a median +0.0% over 5 sessions (50% higher; middle half -2.9% to +2.4%), and +0.5% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
