◂ Event Timeline

Apr 9, 2026REPORTUS

USDA raises price estimates for several commodities

USDA's April WASDE raised season-average farm price estimates for wheat to $5.00/bu, corn to $4.15, soybeans to $10.30, and soybean meal to $310/short ton. Soybean crush was raised 35 million bushels while exports were lowered, leaving ending stocks unchanged, with competition from South America cited.

WHY IT MATTERS

Higher season-average price forecasts and a larger crush support meal and crop prices, while lower exports reflect competitive pressure from Brazil that caps US upside. Buyers should expect modest seasonal price firmness.

AFFECTSWHEAT▲CORN▲SOY▲SBM▲

SOURCE
agri-pulse.comOliver WardApr 9, 2026

Price reaction & history

WHEAT▲bullishSO FAR1d -0.4%5d +3.1%20d +0.1%

After 769 past bullish report events, WHEAT moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.

Oct 12, 2021USDA officials increase soybean, corn yield estimates | Agri-Pulse Communications, Inc.+0.7%
Dec 8, 2023USDA trims forecast for soybean, wheat supplies | Agri-Pulse Communications, Inc.-4.0%
May 10, 2017Winter wheat takes a hit in USDA forecast | 2017-05-10 | Agri-Pulse | Agri-Pulse Communications, Inc.-2.4%
Feb 19, 2026USDA chief economist: Economic headwinds to ease slightly in 2026 | Agri-Pulse Communications, Inc.+1.8%
May 12, 2022USDA warns on corn, winter wheat crops due to weather | 2022-05-12 | Agri-Pulse Communications, Inc.+5.9%

CORN▲bullishSO FAR1d -0.6%5d +0.9%20d +1.5%

After 1,040 past bullish report events, CORN moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.

Sep 12, 2019USDA lowers corn, soybean yield estimates | 2019-09-12 | Agri-Pulse Communications, Inc.+4.8%
Dec 8, 2023USDA trims forecast for soybean, wheat supplies | Agri-Pulse Communications, Inc.-2.7%
Aug 12, 2021USDA lowers corn, soybean yield estimates due to drought | 2021-08-12 | Agri-Pulse Communications, Inc.+0.7%
Feb 5, 2021US sets new record for ag exports to China in 2020 | 2021-02-05 | Agri-Pulse Communications, Inc.-2.2%
Jul 10, 2020USDA holds corn and soybean yields steady in latest WASDE | 2020-07-10 | Agri-Pulse Communications, Inc.-4.9%

SOY▲bullishSO FAR1d +0.3%5d +0.4%20d +1.5%

After 747 past bullish report events, SOY moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.

Sep 12, 2019USDA lowers corn, soybean yield estimates | 2019-09-12 | Agri-Pulse Communications, Inc.+4.1%
Dec 8, 2023USDA trims forecast for soybean, wheat supplies | Agri-Pulse Communications, Inc.+0.2%
May 31, 2023USDA lowers ag trade forecast for FY 2023 | Agri-Pulse Communications, Inc.+4.4%
Aug 12, 2021USDA lowers corn, soybean yield estimates due to drought | 2021-08-12 | Agri-Pulse Communications, Inc.-3.4%
Feb 5, 2021US sets new record for ag exports to China in 2020 | 2021-02-05 | Agri-Pulse Communications, Inc.-0.4%

SBM▲bullishSO FAR1d +0.9%5d +5.8%20d +2.5%

After 414 past bullish report events, SBM moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.

Sep 12, 2019USDA lowers corn, soybean yield estimates | 2019-09-12 | Agri-Pulse Communications, Inc.+0.7%
Aug 12, 2021USDA lowers corn, soybean yield estimates due to drought | 2021-08-12 | Agri-Pulse Communications, Inc.+0.4%
Feb 24, 2022USDA sees bigger soy production, exports and crush for 2022-23 | 2022-02-24 | Agri-Pulse Communications, Inc.-1.7%
Apr 10, 2026USDA Raises Wheat, Corn and Soy Price Estimates - Farm Policy News+4.4%
Jun 30, 2023More corn, less soybeans revealed in USDA crop acreage, grain stocks reports | Agri-Pulse Communications, Inc.+1.6%

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 · GP ▸

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CORN · GP ▸

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