# WASDE Report Spurs Wheat & Corn Price Rally, Soybeans Lag | tastylive

> Wheat and corn prices rose after the September WASDE, with wheat gaining over 2% on reduced Russian export prospects due to frost and weather problems at harvest. Soybeans sold off after an initial upside reaction.

- Date: 2024-09-13 · published 2024-09-13T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/28257-wasde-report-spurs-wheat-and-corn-price-rally-soybeans-lag-tastylive
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Lower Russian wheat export expectations tighten global wheat supply, lifting feed wheat prices and competing feed grain values. Soybean weakness reflects the report's neutral-to-bearish soy balance.

## Read by commodity

- SOY: bearish ▼
- CORN: bullish ▲
- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2024-09-15 | 1 | +3.1% | 3.2 | Post-WASDE rally in wheat and corn, with Russian wheat export cuts spilling over into corn on feed-grain substitution, supported prices. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2018-08-13 | [WASDE Review August 2018 : Soybean / Wheat / Corn](https://feedsoft.ai/events/63482-wasde-review-august-2018-soybean-wheat-corn.md) | -1.8% | +3.1% |
| WHEAT | 2022-12-09 | [Lastest WASDE, Ending stocks Estimates were Neutral for Corn, Soybeans and Wheat - Oklahoma Farm Report](https://feedsoft.ai/events/38190-lastest-wasde-ending-stocks-estimates-were-neutral-for-corn-soybeans-and-wheat.md) | +10.3% | +8.2% |
| WHEAT | 2016-12-08 | [WEEKLY EXPORT REPORT: Corn, soybean, wheat sales increase](https://feedsoft.ai/events/73338-weekly-export-report-corn-soybean-wheat-sales-increase.md) | +0.9% | +0.6% |
| WHEAT | 2019-11-12 | [WASDE Lowers Wheat, Corn and Soybean Forecasts \| AgWired](https://feedsoft.ai/events/56021-wasde-lowers-wheat-corn-and-soybean-forecasts-agwired.md) | +3.4% | +0.5% |
| WHEAT | 2016-12-01 | [WEEKLY EXPORT REPORT: Corn, soybean, wheat business declines](https://feedsoft.ai/events/73339-weekly-export-report-corn-soybean-wheat-business-declines.md) | +3.7% | +3.8% |
| KWHEAT | 2019-02-15 | [February WASDE report: price implications](https://feedsoft.ai/events/60644-february-wasde-report-price-implications.md) | -4.8% | -8.0% |
| KWHEAT | 2021-07-12 | [July WASDE optimistic for wheat but less so for corn and soybeans - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/46005-july-wasde-optimistic-for-wheat-but-less-so-for-corn-and-soybeans-agweek-1.md) | +8.8% | +17.8% |
| KWHEAT | 2021-09-30 | [Soybeans Plunge, Wheat Rallies on USDA Stocks and Production Changes](https://feedsoft.ai/events/45035-soybeans-plunge-wheat-rallies-on-usda-stocks-and-production-changes.md) | +4.7% | +10.0% |

## Sources

- tastylive.com: https://www.tastylive.com/news-insights/wasde-report-spurs-wheat-and-corn-price-rally-soybeans-lag

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