# June WASDE serves the markets a reality check

> The June WASDE left U.S. corn outlook unchanged from May and kept South American corn estimates steady. Wheat prices fell after USDA raised U.S. hard red winter production and trimmed Russian and Brazilian crop cuts below what the market expected. Soybean prices also dropped as the report showed smaller reductions to Brazil's crop than traders had hoped.

- Date: 2024-06-12 · published 2024-06-12T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/29694-june-wasde-serves-the-markets-a-reality-check
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Higher U.S. wheat output and softer global import demand add to bearish wheat pressure. Smaller-than-expected Brazilian soybean cuts leave soybean supplies ample.

## Read by commodity

- SOY: bearish ▼
- CORN: neutral
- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2025-05-13 | [Terrain \| May 2025 WASDE Sets the Stage for Markets](https://feedsoft.ai/events/24699-terrain-may-2025-wasde-sets-the-stage-for-markets.md) | -4.2% | -2.6% |
| WHEAT | 2020-09-11 | [September WASDE resets goalposts — This week in the grain markets - RealAgriculture](https://feedsoft.ai/events/51209-september-wasde-resets-goalposts-this-week-in-the-grain-markets-realagriculture.md) | +0.7% | +7.9% |
| WHEAT | 2024-06-12 | [USDA June WASDE Report Provides Little Market-Moving News](https://feedsoft.ai/events/29696-usda-june-wasde-report-provides-little-market-moving-news.md) | -2.1% | -3.3% |
| WHEAT | 2022-07-12 | [Turner's Take Ag Markets \| WASDE Bearish](https://feedsoft.ai/events/5975-turner-s-take-ag-markets-wasde-bearish.md) | +7.2% | +7.0% |
| WHEAT | 2022-09-12 | [WASDE sparks a corn, soybean rally – The Seam](https://feedsoft.ai/events/39609-wasde-sparks-a-corn-soybean-rally-the-seam.md) | -0.5% | +4.9% |
| KWHEAT | 2024-06-12 | [USDA June WASDE Report Provides Little Market-Moving News](https://feedsoft.ai/events/29696-usda-june-wasde-report-provides-little-market-moving-news.md) | -8.3% | -9.7% |
| KWHEAT | 2023-01-12 | [Turner's Take Ag Markets \| Jan WASDE Bullish](https://feedsoft.ai/events/37733-turner-s-take-ag-markets-jan-wasde-bullish.md) | +1.2% | +6.9% |
| KWHEAT | 2023-06-20 | [Not much action in USDA's June WASDE report](https://feedsoft.ai/events/9772-not-much-action-in-usda-s-june-wasde-report.md) | +2.9% | -1.8% |

## Sources

- farmprogress.com: https://www.farmprogress.com/marketing/june-wasde-serves-the-markets-a-reality-check

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