# WASDE surprises with higher wheat stocks than expected - Agweek | #1 source for agriculture news, farming, markets

> The October WASDE showed higher world wheat stocks than expected, as USDA offset lower U.S. stocks with higher imports and raised Ukraine's wheat numbers. USDA also cut Chinese corn supply and imports, and the report was seen as slightly negative for corn and neutral to soybeans.

- Date: 2024-10-11 · published 2024-10-11T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/27803-wasde-surprises-with-higher-wheat-stocks-than-expected-agweek-1-source-for
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Higher global wheat stocks weigh on wheat prices and reduce the need for export demand. The cut to China's corn imports removes some demand that the market may need to replace elsewhere.

## Read by commodity

- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-05-17 | [WASDE not as bad as expected, for now - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/53062-wasde-not-as-bad-as-expected-for-now-agweek-1-source-for-agriculture-news.md) | +0.6% | +1.2% |
| WHEAT | 2017-10-15 | [WASDE Report surprises soybean market - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/68415-wasde-report-surprises-soybean-market-agweek-1-source-for-agriculture-news.md) | -0.4% | -3.9% |
| WHEAT | 2022-09-15 | [Canadian canola harvest smaller than expected, wheat output slightly bigger - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/39546-canadian-canola-harvest-smaller-than-expected-wheat-output-slightly-bigger.md) | +5.5% | -9.2% |
| WHEAT | 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) | -1.5% | -7.4% |
| WHEAT | 2022-06-10 | [U.S. cuts soy supply outlook, raises corn, wheat stocks view in June WASDE - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/40893-u-s-cuts-soy-supply-outlook-raises-corn-wheat-stocks-view-in-june-wasde-agweek.md) | +1.7% | -7.4% |
| CORN | 2017-10-15 | [WASDE Report surprises soybean market - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/68415-wasde-report-surprises-soybean-market-agweek-1-source-for-agriculture-news.md) | -1.9% | -5.7% |
| CORN | 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) | -1.6% | -2.3% |
| CORN | 2022-06-10 | [U.S. cuts soy supply outlook, raises corn, wheat stocks view in June WASDE - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/40893-u-s-cuts-soy-supply-outlook-raises-corn-wheat-stocks-view-in-june-wasde-agweek.md) | -1.2% | -1.0% |

## Sources

- agweek.com: https://www.agweek.com/business/markets/wasde-surprises-with-higher-wheat-stocks-than-expected

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