# April WASDE: Muted markets play wait-and-see game amid Middle East conflict | An official publication of Michigan Farm Bureau

> Michigan Farm News reported that the April 9 WASDE produced muted reactions in corn and soybeans, with wheat facing negative pressure. Ken Lake of Michigan Agricultural Commodities said ending stocks were close to trade estimates, and that Middle East energy and fertilizer tensions remain the bigger market driver.

- Date: 2026-04-09 · published 2026-04-09T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/19665-april-wasde-muted-markets-play-wait-and-see-game-amid-middle-east-conflict-an
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Energy and fertilizer disruption from Middle East tensions is a stronger price driver than the WASDE, which implies higher input costs for feed producers. Wheat's bearish response reflects the larger-than-expected stocks figure.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-01-12 | [Commodity markets take USDA’s WASDE in stride \| An official publication of Michigan Farm Bureau](https://feedsoft.ai/events/43103-commodity-markets-take-usda-s-wasde-in-stride-an-official-publication-of.md) | +3.9% | +2.0% |
| WHEAT | 2022-07-12 | [Latest USDA WASDE report hits markets hard \| An official publication of Michigan Farm Bureau](https://feedsoft.ai/events/4308-latest-usda-wasde-report-hits-markets-hard-an-official-publication-of-michigan.md) | +7.2% | +7.0% |
| WHEAT | 2025-02-11 | [Markets turn red following USDA’s February WASDE surprises \| An official publication of Michigan Farm Bureau](https://feedsoft.ai/events/25990-markets-turn-red-following-usda-s-february-wasde-surprises-an-official.md) | +2.0% | -3.0% |
| WHEAT | 2025-03-11 | [USDA Report Reaction \| Markets have muted response to USDA's March WASDE Report - Pro Farmer](https://feedsoft.ai/events/25513-usda-report-reaction-markets-have-muted-response-to-usda-s-march-wasde-report.md) | +5.7% | +1.9% |
| WHEAT | 2025-04-29 | [Feed sector sees relief as global grain, oilseed prices slide \| Feed Business Middle East & Africa - No.1 Publication for Animal Nutrition, Animal Health & Livestock Industry](https://feedsoft.ai/events/25199-feed-sector-sees-relief-as-global-grain-oilseed-prices-slide-feed-business.md) | +2.1% | -2.8% |
| CORN | 2025-01-06 | [USDA’s January WASDE, final production reports could prove pivotal for corn market \| An official publication of Michigan Farm Bureau](https://feedsoft.ai/events/11607-usda-s-january-wasde-final-production-reports-could-prove-pivotal-for-corn.md) | +4.1% | +5.3% |
| CORN | 2024-08-13 | [August WASDE, Crop Production Reports Buoy Expectations for Large Crops \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/10467-august-wasde-crop-production-reports-buoy-expectations-for-large-crops-farm.md) | -1.2% | +0.1% |
| CORN | 2019-03-25 | [Reviewing County-Level Corn and Soybean Yields in 2018 \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/59918-reviewing-county-level-corn-and-soybean-yields-in-2018-farm-bureau-intel.md) | -5.0% | -5.6% |

## Sources

- michiganfarmnews.com: https://www.michiganfarmnews.com/april-wasde-muted-markets-play-wait-and-see-game-amid-middle-east-conflict

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