# USDA's Latest WASDE Reveals a Split Market—Wheat Swells, Corn and Soybeans Hold Steady | Michigan Ag Today

> Michigan Ag Today reported that USDA raised U.S. wheat ending stocks to 938 million bushels, the highest since 2019-20, while corn and soybean carryouts were unchanged at 2.127 billion and 350 million bushels. USDA raised soybean crush by 35 million bushels to 2.61 billion and nudged season-average farm prices higher for all three crops.

- Date: 2026-04-10 · published 2026-04-10T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/19670-usda-s-latest-wasde-reveals-a-split-market-wheat-swells-corn-and-soybeans-hold
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Higher wheat carryout is bearish for wheat as a feed option. A larger soybean crush supports soybean meal output, which can ease meal supply for feed buyers.

## Read by commodity

- SBM: neutral
- SOY: neutral
- CORN: neutral
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-10-12 | [Turner's Take Ag Markets \| WASDE Bullish Soybeans and Bearish Corn/Wheat](https://feedsoft.ai/events/39095-turner-s-take-ag-markets-wasde-bullish-soybeans-and-bearish-corn-wheat.md) | +3.6% | +4.6% |
| WHEAT | 2026-05-01 | [April WASDE Holds Corn, Soybean Ending Stocks Steady, Raises Wheat Stocks](https://feedsoft.ai/events/19667-april-wasde-holds-corn-soybean-ending-stocks-steady-raises-wheat-stocks.md) | -2.9% | -0.1% |
| WHEAT | 2026-03-10 | [Soybeans up, corn and wheat down after quiet March WASDE report - Brownfield Ag News](https://feedsoft.ai/events/10386-soybeans-up-corn-and-wheat-down-after-quiet-march-wasde-report-brownfield-ag.md) | -1.3% | -1.1% |
| WHEAT | 2025-05-12 | [Canada Know-Risk Market Outlook \| WASDE Friendly Corn and Soybeans, Bearish Wheat](https://feedsoft.ai/events/24609-canada-know-risk-market-outlook-wasde-friendly-corn-and-soybeans-bearish-wheat.md) | -0.1% | -2.0% |
| WHEAT | 2026-01-12 | [US corn and wheat supplies rise in latest WASDE \| Feed & Grain](https://feedsoft.ai/events/12589-us-corn-and-wheat-supplies-rise-in-latest-wasde-feed-and-grain.md) | +0.2% | +2.0% |
| SBM | 2023-07-13 | [Bearish WASDE Report Impacting Corn, Soybeans, and Wheat](https://feedsoft.ai/events/34985-bearish-wasde-report-impacting-corn-soybeans-and-wheat.md) | +5.4% | +2.3% |
| SBM | 2023-08-11 | [August WASDE cuts export expectations for corn, soybeans and wheat - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/12249-august-wasde-cuts-export-expectations-for-corn-soybeans-and-wheat-agweek-1.md) | -5.6% | -6.0% |
| SBM | 2022-10-18 | [WASDE Recap: Corn and Soybeans at a Turning Point - farmdoc daily](https://feedsoft.ai/events/14896-wasde-recap-corn-and-soybeans-at-a-turning-point-farmdoc-daily.md) | -0.1% | -1.4% |

## Sources

- michiganagtoday.com: https://www.michiganagtoday.com/2026/04/09/usdas-latest-wasde-reveals-a-split-market-wheat-swells-corn-and-soybeans-hold-steady/

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