# WASDE update: Better supply prospects for wheat and corn | articles | ING THINK

> ING said the July WASDE was relatively bearish overall, with U.S. corn production raised to 15.1 billion bushels and 2024-25 corn stocks at 2.097 billion bushels, below the roughly 2.29 billion expected. Soybean 2024-25 ending stocks were cut, and wheat supply prospects improved. Corn ending stocks were pulled down by stronger demand and lower 2023/24 stocks.

- Date: 2024-07-15 · published 2024-07-15T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/29205-wasde-update-better-supply-prospects-for-wheat-and-corn-articles-ing-think
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

The corn and soybean stock cuts are supportive for prices, but the higher wheat and global output estimates weigh on the market. For feed buyers, corn and soymeal costs are likely to stay firm while wheat stays cheaper.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-10-13 | [WASDE update: US supply cuts \| articles \| ING THINK](https://feedsoft.ai/events/39103-wasde-update-us-supply-cuts-articles-ing-think.md) | +1.6% | -1.2% |
| CORN | 2022-08-15 | [WASDE update: Further tightening for corn expected \| articles \| ING THINK](https://feedsoft.ai/events/6533-wasde-update-further-tightening-for-corn-expected-articles-ing-think.md) | -1.1% | -0.5% |
| CORN | 2024-03-11 | [WASDE update: Corn and soybean markets tighten \| articles \| ING THINK](https://feedsoft.ai/events/31132-wasde-update-corn-and-soybean-markets-tighten-articles-ing-think.md) | +1.7% | -4.3% |
| CORN | 2021-04-12 | [WASDE update: Tightening corn balance \| articles \| ING THINK](https://feedsoft.ai/events/47548-wasde-update-tightening-corn-balance-articles-ing-think.md) | +0.9% | +25.0% |
| CORN | 2025-01-13 | [WASDE update: US corn and soybean output estimates cut \| articles \| ING THINK](https://feedsoft.ai/events/26453-wasde-update-us-corn-and-soybean-output-estimates-cut-articles-ing-think.md) | +1.7% | +1.8% |
| SOY | 2022-10-13 | [WASDE update: US supply cuts \| articles \| ING THINK](https://feedsoft.ai/events/39103-wasde-update-us-supply-cuts-articles-ing-think.md) | -1.7% | +4.6% |
| SOY | 2023-09-13 | [WASDE update: Tighter wheat and looser corn market \| articles \| ING THINK](https://feedsoft.ai/events/34042-wasde-update-tighter-wheat-and-looser-corn-market-articles-ing-think.md) | -1.2% | -4.5% |
| SOY | 2022-01-13 | [WASDE update: Poor South American weather weighs on supply prospects \| articles \| ING THINK](https://feedsoft.ai/events/43105-wasde-update-poor-south-american-weather-weighs-on-supply-prospects-articles.md) | +2.5% | +13.2% |

## Sources

- think.ing.com: https://think.ing.com/articles/wasde-update-better-supply-prospects-for-wheat-and-corn150724/

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