# November WASDE Surprises With Larger-Than-Expected Yield, Production Cuts

> USDA's November WASDE lowered the U.S. corn yield by 0.7 bu to 183.1 bu/acre and production by 60 million bushels to 15.143 billion. Soybean yield fell 1.4 bu to 51.7 bu/acre, cutting production 121 million bushels to 4.461 billion. Corn ending stocks came in slightly above trade estimates, and soybean stocks were below expectations.

- Date: 2024-11-11 · published 2024-11-11T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/27339-november-wasde-surprises-with-larger-than-expected-yield-production-cuts
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Lower U.S. output and tighter soybean stocks support feed-grain and soymeal prices going into the 2024/25 marketing year. Corn demand was held unchanged, so the tightening comes from supply.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-11-09 | [WASDE Report Surprises With Lower Yield, Production, Soy Stocks](https://feedsoft.ai/events/43997-wasde-report-surprises-with-lower-yield-production-soy-stocks.md) | +1.2% | +5.2% |
| CORN | 2025-09-13 | [WASDE: USDA surprises with even bigger corn production](https://feedsoft.ai/events/6849-wasde-usda-surprises-with-even-bigger-corn-production.md) | +5.1% | +2.8% |
| CORN | 2023-10-12 | [WASDE Reduces Corn and Soy Production More Than Expected](https://feedsoft.ai/events/33584-wasde-reduces-corn-and-soy-production-more-than-expected.md) | -0.4% | -1.5% |
| CORN | 2025-04-11 | [WASDE Report Cuts Corn Ending Stocks More Than Expected - ProAg](https://feedsoft.ai/events/25066-wasde-report-cuts-corn-ending-stocks-more-than-expected-proag.md) | +1.7% | -4.0% |
| CORN | 2024-07-12 | [July WASDE Surprises Trade With Old Crop Ending Stocks Reductions](https://feedsoft.ai/events/7099-july-wasde-surprises-trade-with-old-crop-ending-stocks-reductions.md) | -2.4% | -2.7% |
| SOY | 2021-11-09 | [WASDE Report Surprises With Lower Yield, Production, Soy Stocks](https://feedsoft.ai/events/43997-wasde-report-surprises-with-lower-yield-production-soy-stocks.md) | +6.7% | +6.1% |
| SOY | 2025-09-13 | [WASDE: USDA surprises with even bigger corn production](https://feedsoft.ai/events/6849-wasde-usda-surprises-with-even-bigger-corn-production.md) | -0.0% | -1.9% |
| SOY | 2023-10-12 | [WASDE Reduces Corn and Soy Production More Than Expected](https://feedsoft.ai/events/33584-wasde-reduces-corn-and-soy-production-more-than-expected.md) | +4.7% | +7.7% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2024/11/11/november-wasde-surprises-larger-cuts

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